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:

Ultimately, this is in the area of choice. If there are particular needs in one area, one makes choices around how that area is prioritised over others. We went through a phase in the "noughties" where we put huge amounts of money into capital investment and what we ended up getting was only price increase. We did not get an adequate return for that. That was a mistake. I do not disagree with the Deputy about investment needs and so on, but choices have to be made within an overall constraint.