Oireachtas Joint and Select Committees

Thursday, 3 December 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report: Irish Fiscal Advisory Council

2:00 pm

Photo of Peadar TóibínPeadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

The overheating that was a feature of the pre-crash period around 2003 manifested itself mostly in the property market, etc. Professor John McHale mentioned in his report that the output gap is shrinking and is close to being totally consumed. He suggested that overheating is likely to happen for this reason. How would that manifest itself? What tools has the Government at its disposal to prevent this from happening?

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