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 Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

Our resentment in our initial engagements towards the IFAC was that the demand for balancing the books came against a background where they had become unbalanced by the activities of others in circumstances where the can in respect of getting revenue and expenditure back to balance was being carried by those who, by and large, had not put them out of balance or who had not made the decisions. However, anybody who is sane should subscribe to the principle that one should spend what one can raise. Indeed, it raises the question, is there any such thing as good borrowing. Who was it who said, "Neither a borrower nor a lender be"?

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