Oireachtas Joint and Select Committees

Wednesday, 16 January 2019

Committee on Budgetary Oversight

Fiscal Assessment Report: Minister for Public Expenditure and Reform

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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As I said, I am not changing my assumptions and the announcements I made in budget 2018. The first opportunity I will have to present a revised update on any policy decision will be in the stability programme update. I am still anticipating that we will be standing by many of the macroeconomic choices and commitments I made, especially the rainy day fund. That is my view, but I am mindful of the great risks posed by Brexit. I am very mindful of the way in which it might impact on the budget and where we will end up with automatic stabilisers and either a balanced budget, a surplus or a deficit. I will comment further on the matter in the stability programme update. In the last two days I have met the Governor of the Central Bank and the chairman of National Treasury Management Agency and discussed where we stand this week in the context of Brexit.