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. Gary Tobin:

The legislation that is going through the Houses at the moment provides for an in-year contingency reserve of €500 million for the kinds of force majeureissues that Mr. McCarthy mentioned. If that €500 million is not used, the legislation proposes that it should then go into the rainy day fund. That is how it is proposed that it will work.


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