Oireachtas Joint and Select Committees

Wednesday, 22 September 2021

Committee on Budgetary Oversight

Pre-Budget 2022 Scrutiny: Irish Fiscal Advisory Council

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

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.


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