Oireachtas Joint and Select Committees

Wednesday, 3 July 2019

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We have not made a decision in respect of what is going to happen in December 2020 yet. That is the reason. The ongoing IFAC criticism, of which I am aware and which the Deputy has reiterated on a number of occasions, is that our level of current expenditure and projected growth is not credible or realistic.

I have recognised that in the medium-term expenditure outlook by increasing the rate of planned current expenditure for the years after 2020 from slightly more than 2% to 3.25%. That is to deal with the charge that has been made that we have underestimated current expenditure growth. The Deputy is seeking to conflate two different things. The role of the summer economic statement is to outline what level of resources is available. It is not to make decisions on how those resources are made.

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