Oireachtas Joint and Select Committees
Tuesday, 11 June 2019
Committee on Budgetary Oversight
Fiscal Assessment Report: Irish Fiscal Advisory Council
Mr. Sebastian Barnes:
That is a concern we have expressed before and it is still the case. The design is still the same and I think that is a big problem. Were the slowdown to occur, it would obviously be much better to have a rainy day fund that was designed to be used in those circumstances than to find oneself scrambling for a solution. Given, in particular, the kind of risks we have discussed with regard to Brexit, some of these problems may not be hugely around the corner. Obviously, there is not much money in the fund at the moment so it is not going to make a lot of difference in that sense but it is still an important concern.
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