Oireachtas Joint and Select Committees

Wednesday, 18 June 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Forthcoming ECOFIN Council: Minister for Finance

4:25 pm

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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In coming up with our estimate of what is required by 2018, we have worked on the best information we got from the Commission. The Irish Fiscal Advisory Council seems to be working from a different assumption. I would like my officials and those of the IFAC to see if they can reconcile the differences in approach. It comes back to my opening position that if the Irish Fiscal Advisory Council's view of what is required is correct, that makes the budgetary process easier for me or my successors as we go towards 2018.

As regards fiscal and economic management, my view is that the public and the economy have been under pressure for a long time now. Therefore, I will do whatever is required to meet targets but I will not go beyond that in terms of corrective action.