Oireachtas Joint and Select Committees
Wednesday, 21 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Michael McGrath (Cork South Central, Fianna Fail)
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On page 6 of his paper, Professor Lane makes criticism of fiscal policy in stating that during the good years the budget surplus should have been bigger and put into what he called a fiscal reserve fund. Have we matured as a country and dealt with the apparent conflict between fiscal prudence and winning elections? What is his view on the journey through which we have come and how we now regard fiscal management? Have we taken the right steps or is there still a risk on that front?