Oireachtas Joint and Select Committees

Wednesday, 7 September 2022

Committee on Budgetary Oversight

Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Okay. The Minister stood up on the floor and said the Government expected a budget deficit next year of €8 billion and could not go back to the situation of "If we have it, we spend it". That was an issue. We had to reduce the deficit and there was a pathway there. We have seen a bonanza and a €13 billion turnaround, yet IFAC says the Government should not do anything more than what it planned last year in the contingency fund of €2.5 billion. That will not cut it for many families. It will not stretch. When we look at prices increases for average families of over €2,000, that will not cut it in terms of one-off measures, will it?

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