Oireachtas Joint and Select Committees

Thursday, 18 October 2012

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

Fiscal Responsibility Bill 2012: Committee Stage

2:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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My question was how would we define the model to be used in calculating the structural deficit. Will it be defined by the Department of Finance or will the European model be used? Will the Minister publicise how the structural deficit will be defined?

The Minister has suggested that the structural deficit, in how it was calculated in 2007 and previous years, was probably inaccurate. He is asking to enshrine in domestic legislation - forget about the treaty debate - a rule here and I want to know how that rule will be calculated in future.