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

It does seem to be within the ambit because one of the key elements in it risk, which Mr. Makhlouf talked about. A lot of opinion is being given on fiscal policy and investment strategy, some of which would be useful to have the underpinning, as others pointed out. For example, the assumption of multiple investors benefiting, when we see what has happened with commercial property. Debt sustainability is also a core element of that, and part of that is assumptions of what the roll-out will be in terms of financial security and so forth. For example, an area mentioned where there has been a shortfall of adequate risk assessment is in terms of bonds, geopolitics and human rights. Another area I had previously engaged with the Central Bank on, and I am glad to see it has been touched on, is climate risk and environmental risk. Mr. Makhlouf mentioned the need to have greater consideration of that factor. Where that points to, in some ways, is the need for preventative spending.

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