Oireachtas Joint and Select Committees

Wednesday, 10 May 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Examination of EU Fiscal Rules (Resumed): Irish Fiscal Advisory Council

Mr. Sebastian Barnes:

I think that sounds broadly correct. Regarding the 3%, one must remember that we have been through Covid and a major energy crisis. Every country is doing very big one-off programmes so I do not think it is representative of the underlying position. The 3% is not specified in the underlying position but in most countries, if the energy supports are not repeated, public finances will be dramatically better next year than they were this year.

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