Oireachtas Joint and Select Committees

Tuesday, 8 December 2020

Committee on Budgetary Oversight

Post-Budget Analysis: Irish Fiscal Advisory Council

Photo of Patricia RyanPatricia Ryan (Kildare South, Sinn Fein) | Oireachtas source

I was going to come to pensions.

I was going to say in respect of post-Covid challenges there is a section of the report dealing with demographic changes. The council makes a point that the pension deficit should start to bite after 2030. My understanding is that the council forecasts for economic growth for the period thereafter are approximately 1%. This means our economy would enter a phase of secular stagnation. Given that low growth is a driver of fiscal unsustainability, what policies for long-term growth does IFAC see as necessary to boost growth by extension of fiscal sustainability?

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