Oireachtas Joint and Select Committees

Thursday, 30 May 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council

9:00 am

Mr. Derek Moran:

When it comes out it becomes a charge. We saw that when we took the money out of the National Pensions Reserve Fund during the crisis and we had that effect. It does not make having that cash where one may be marginalised in terms of access to the markets a bad thing to do. The recent IMF Article IV report suggested that in the context of a disorderly Brexit, rather than making deposits, we should be considering using the resource to support the economy where it is most needed. At the end of the day, when one is facing a crisis the idea that one spends money is not something that-----

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