Oireachtas Joint and Select Committees

Wednesday, 5 December 2018

Committee on Budgetary Oversight

Fiscal Assessment Report November 2018: Irish Fiscal Advisory Council

2:00 pm

Dr. Martina Lawless:

I want to add a comment. I am sure members know that I also work at the ESRI, which is deeply involved in many of these forecasts. The type of modelling the ESRI has done and the scenarios are based on a long-term effect and the long-term impact Brexit will have on the Irish economy once it has happened. One of the issues that we and the Department of Finance raise as a risk is that we do not even know the timing of when Brexit will happen and while the long-term estimates might be exactly on point, the precise transition mechanism of how quickly that would come into play is still very much unknown.