Oireachtas Joint and Select Committees
Wednesday, 16 January 2019
Committee on Budgetary Oversight
Fiscal Assessment Report: Minister for Public Expenditure and Reform
Paschal Donohoe (Dublin Central, Fine Gael)
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I was referring to the negative effects we could have in Brexit in terms of the possibility of expenditure being reduced. What happens in any given year and has been the case for the past number of years is we can change our spending profiles within Departments in response to events that occur.
There would be a need to engage in that in the event of a disorderly Brexit and there are a couple of ways in which it could be done. We could look at where priority decisions need to be made in the context of the more imminent and urgent need which we would have or we could look at whether decisions need to be made on where current expenditure is allocated. I will work with all of my colleagues on this matter. I am very alive to the severe risk that a disorderly Brexit would pose to our economy. However, as I stated to each of the Deputy's committee colleagues, if it occurs, a disorderly Brexit will be a unique event. I will consider whether there is a need to review the understanding we have of a disorderly Brexit in the context of information that is emerging almost every day from the United Kingdom. I stress that many of the information and predictions emanating from the United Kingdom are based on a higher level of assumption than would normally be the case. When I have discussed the matter with the Government, I will make any updated information available to the committee and the Oireachtas.