Oireachtas Joint and Select Committees

Wednesday, 9 October 2024

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

Engagement with the Central Bank of Ireland

1:30 pm

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent) | Oireachtas source

I will go to my second point, which is the second area I would like to discuss.

A lot of discussion has taken place with regard to the fiscal rules and fiscal policy. Ireland is about to submit a new five-year net expenditure plan to the European Commission later this month. This is very significant, of course, and it replaces, effectively, the semester process. This will be a five-year piece and is underpinned by a number of assumptions both in terms of projections and assumptions such as demographic projections and assumptions that allow Ireland to make its case in terms of debt sustainability. There are a couple of pieces to this. One, has the Central Bank had engagement with the Government, the Department or the European Commission in respect of the five-year net expenditure plan?

Clear opinions and recommendations in respect of fiscal policy were made in the testimony we heard earlier. What engagement has the Central Bank had regarding the five-year net expenditure plan and the assumptions that will underpin it?

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