Oireachtas Joint and Select Committees

Wednesday, 19 September 2018

Committee on Budgetary Oversight

Priorities for Budget 2019: Irish Fiscal Advisory Council

2:00 pm

Mr. Seamus Coffey:

There are some views that the budgetary package of €800 million is appropriate. If there is an additional revenue-raising measure, that gives greater space to spend it on the other side, so it can be used. We think the €3.5 billion for next year is at the limit, and greater deficit reduction and moving to a surplus would be more appropriate. If there was the additional revenue-raising measure, however, and it was used to fund spending measures, it would still be within the envelope of prudent economic and budgetary management. It might not necessarily create a large enough buffer from our perspective but, in general terms, it would be a relatively appropriate approach to take.

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