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

There will be a summer economic statement, although I will have to consult within Government regarding the format of the SES. Many of the difficulties we had in respect of economic uncertainty will be better than they were a year ago. I still anticipate they will be present in a way that will be unlike many other years. Anyway, there will be an SES, but I will have to agree the format with Government.

Deputy Doherty asked about the timing of the stability programme update. We will publish a stability programme update at the end of April. It will contain a multi-annual projection with regard to budget performance and how we will look to move our national finances into a sustainable position. The programme for Government has a long-term commitment to return our national finances back to a position of health. Again, that will be outlined in the stability programme update. I wish to emphasise that there will be considerable uncertainty around this. It will be a different SPU format from what we have done before because there are still many variables and changes that could have a major impact on our economic performance.

Deputy Doherty asked a question with regard to the fiscal rules and architecture. I should make clear here that I am not speaking as president of the Eurogroup on this issue. I am speaking as Minister for Finance of Ireland, because different rules apply.

I believe there is an opportunity to make the fiscal rules more simple. When the fiscal rules are reapplied, that should be done when our economies are recovering and we are seeing employment and income growing again. I believe there is an opportunity to make the fiscal rules less complex. We need to look at how they can be the cause of and recognise investment within economies that it is capable of generating further growth.