Oireachtas Joint and Select Committees
Thursday, 6 July 2017
Public Accounts Committee
2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of the Minister for Public Expenditure and Reform
Vote 12 - Superannuation and Retired Allowances
Vote 18 - Shared Services
Vote 39 - Office of Government Procurement
Chapter 3 - Vote Accounting and Budget Management
Comptroller and Auditor General Special Report 95: Financial Reporting in the Public Sector
9:00 am
Mr. Robert Watt:
As I was saying, the current plans would see an increase in capital spending of 70% by 2021 compared with last year's spending. That represents a significant increase based on current plans, as well as a significant increase by the commercial semi-States in gas, electricity, ports and so on.
The Department of Finance is responsible for the application of the fiscal rules and has been involved in discussions with the European Commission about that matter.
I will make a few remarks. In the absence of fiscal rules from the EU, we would still have to manage our affairs in a way that would put a constraint on the resources that we use for current and capital spending. Were we in an environment in which there were only domestic rules or no rules, we would still have to conduct our affairs in a way that would put a limit or constraint on how much-----
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