Oireachtas Joint and Select Committees

Wednesday, 9 November 2016

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2016: Committee Stage

10:00 am

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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There are projections underpinning this budget related to economic growth, specifically 3.5% in gross domestic product and 3.3% in gross national product next year, as well as all the other fiscal projections. Does the Department and Minister still stand over those projections for 2017? Could we have that confirmation before we embark on this process? Will the Minister address the issue of public sector pay? It falls within the remit of the Department of Public Expenditure and Reform but the Minister has overall responsibility for the public finances, achieving our targets and so on. There is €290 million factored in for 2017 for additional expenditure on the Lansdowne Road agreement but there is nothing else there. Given how quickly there have been developments on the public sector pay front, what are the ramifications for the public finances for budgetary policy in respect of 2017? The Lansdowne Road agreement, notionally, is meant to be there until September 2018 and it is important the backdrop be dealt with upfront. This is a train that is coming at us very quickly and it shows no sign of stopping.