Oireachtas Joint and Select Committees

Tuesday, 23 March 2021

Committee on Budgetary Oversight

Pre-Stability Programme Update: Discussion

Dr. Mark Cassidy:

I would not put a time on it. It depends not on the time but on the economic circumstances. In the economic circumstances we are in at the moment it would clearly be extremely unwise to think of reducing these supports. I think a time will come when the economy will start recovering towards normal, and then we need to consider how best to start gradually removing these supports. I think that will be State dependent rather than time dependent. I think it will depend on the economic data not only on how quickly the economy is reopening and what parts of the economy are reopening but also on how consumers are reacting. The economy may reopen but some parts of it may still lag the recovery. I think the data on consumer spending and employment trends as well as other economic indicators, rather than putting a specific time and, ultimately-----

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