Oireachtas Joint and Select Committees

Tuesday, 23 March 2021

Committee on Budgetary Oversight

Pre-Stability Programme Update: Discussion

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I have two or three brief questions and only one answer will be required. The components used in determining the level of wealth in a particular country are, presumably, all goods and services, all property and all salaries and wages. Could I have confirmation on that and also the extent to which that may misdirect economic policy? For example, we could say that all property is inflated in terms of price and that all property is market related and, as we know from the economic crash, its value suddenly disappear. I presume the GNP and the GNI* figures are used to measure wealth. Are they used separately in these measurements or independently of each other?

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