Oireachtas Joint and Select Committees

Thursday, 6 July 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015

9:00 am

Mr. Derek Moran:

I will give the Deputy the sort of answer I think one of my counterparts in any Department of Finance in any jurisdiction would probably give. We have a set of rules and those rules prescribed a direction. There is a freedom for any Government to make a decision at any point to spend any amount of money but the rules require that we raise the moneys in a way that is sustainable, in other words through a tax or a charge or other channel. We get into debates about fiscal space. Fiscal space is only that piece we can do without going to discretionary revenue measures, without raising taxes.