Oireachtas Joint and Select Committees
Wednesday, 22 September 2021
Committee on Budgetary Oversight
Pre-Budget 2022 Scrutiny: Irish Fiscal Advisory Council
I am not sure whether it has been touched on but I want to raise the new spending rule and the debt objective. I assume one of the areas Mr. Barnes is commenting on in that regard is that IFAC have been looking for a fully-balanced budget by 2025. The Government is looking to run a balanced budget on the current side but a deficit with respect to the capital side. Can an argument be made that with an economy such as Ireland's, which is doing such a catch-up on the capital side, we are by definition going to be running deficits on the capital side for a period? Is it a point of principle with the council? I just want to drill down and get the thought process behind it, in layman's terms.