Lisa Chambers (Mayo, Fianna Fail) | Oireachtas source

I thank Mr. Coffey for his presentation.

I recall that on the last occasion, when IFAC made a presentation to us in the run up to the Budget 2017, the fiscal space, as we knew it then, in terms of the money that was available to spend, IFAC advised the committee that the fiscal space was at the upper limits of prudent spending in terms of protecting the economy. Following that presentation, the Government managed to find additional funds and spent an additional €200 million. I am interested in hearing the views of the witnesses on that matter given that prior to the additional spend IFAC felt we had already reached the limit. What is Mr. Coffey's view on the additional spend? Did it have a negative impact on protecting our economy and servicing the debt? Was the Government's decision to spend the extra money prudent?

I have a few questions on Brexit. To what extent does Mr. Coffey believe that Ireland can benefit from inward investment following Brexit? Did IFAC factor Brexit into its own forecast? If so, in what way?

Mr. Coffey touched on compliance with the budget rule in his opening statement. He said that we have breached the rules. Can he outline the breaches? What impact will they have?

Mr. Coffey made an interesting comment on housing. He said that if we respond too quickly to the housing problem and build houses too fast that we could overheat the property market. I would like to hear his views on the current Rebuilding Ireland plan. Should it be revised? Will IFAC contribute to the current review of the plan in light of what he has said here today?