Oireachtas Joint and Select Committees

Wednesday, 22 June 2016

Committee on Arrangements for Budgetary Scrutiny

Engagement with Irish Fiscal Advisory Council

10:00 am

Mr. Michael Tutty:

I will comment on Deputy Ryan's point on the SPU. In case it was not quite clear, the only part of the SPU that we see in advance is the medium-term forecasts. We do not see the rest. We only see the medium-term forecasts a week or two before the actual publication. We are not way ahead of the rest of the world in terms of knowing what is in the SPU.

In terms of having too much information, what we are saying in respect of the medium term is that we should have what is there at present, namely, the no-policy-change approach, a standstill position showing everything, including indexation, and what the Government intends to do in terms of the overall aggregates. Those three simple pieces of information give one a lot of meat to get into. I do not think what we are suggesting would swamp the committee at all.