Oireachtas Joint and Select Committees

Wednesday, 19 June 2024

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

5:30 pm

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

The report also addresses the cost of existing level of service. IFAC's estimate suggests the stability programme update forecasts of current spending increases are on average €700 million lower than the annual standstill costs in 2025, 2026 and 2027. IFAC suggests there is an under-provision on this end also and draws attention to the ageing population. I want to clarify how IFAC deals with existing level of service compared to the Department. IFAC includes the indexation of social welfare within existing level of service. Is that correct?

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