Oireachtas Joint and Select Committees

Wednesday, 20 September 2023

Committee on Budgetary Oversight

Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute

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

I am keeping an eye on the Chamber as our Private Members' Business debate is coming up.

IFAC speaks about the national spending rule. It is the only organisation that calls it the national spending rule. IFAC wants us to legislate for the rule but there is no legislation underpinning the rule and it is not a national rule. It is a Government rule that appeared in the summer economic statement. I think the language is important because there is no national rule of standing. It is a Government rule and the language around it is important. IFAC’s presentations have been very important for the public to understand the fiscal rules, their import and their outworking. This is a guide for the Government that appeared in the summer economic statement in 2021 which it does not call a national rule. The language is important in this.

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