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
David Cullinane (Waterford, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
We can have GNI* figures, put them into brochures and documents and put them up in bright lights but in reality it does not make a bit of difference to how the fiscal rules are implemented because they are based on the GDP figures. That is correct.
On the debt-to-GDP rules, Mr. John McCarthy earlier said the rules are silent on how long it would take to get to the correction of the 60% of debt-to-GDP and that it would have to be done at a reasonable or correct pace. The only absolute rule is that it would be done on the basis of a one-twentieth ratio. Are we exceeding that ratio year on year?