Oireachtas Joint and Select Committees
Wednesday, 5 April 2017
Committee on Budgetary Oversight
Engagement on Overall Fiscal Position: Discussion
2:00 pm
Mr. John McCarthy:
There is this iterative process between EUROSTAT, the Central Statistics Office, CSO, when it is finalising the base for the current year and last September there were quite sizeable changes to the investment figure which because it is smoothed over four years carried through into the following year. There was also an issue with the full year cost of some of the budgetary measures, the Revenue Commissioners had made revised Estimates as to what the full year costs would be. Our intentions are to provide as much information as possible. We can never rule out, unfortunately, that there may be changes. There might be other issues on the investment side this year. There could be something that we just do not anticipate. We do in good faith put the information out and stand over it as best we can but there is always the potential at the last minute.