Declan Breathnach (Louth, Fianna Fail)
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Most of the questions I wanted to ask have been asked. I am coming at it not as an economist, accountant or forecaster. I am a schoolteacher by profession. I always say every day is a learning day and that we are supposed to learn from the mistakes of the past and advice we are given. I thank the delegates for their presentation. Having a budgetary oversight committee is relatively new in Ireland. Surely systems have been in place over the years in other countries. While I know that this is a small economy and that we cannot necessarily control outcomes or some of the issues that arise, surely we learn from best practice. The delegates have said there are political decisions to be made and that the council endorses assessments and gives us advice. Based on what they know, if they were involved in the political system, what would the delegates do in taking the corrective action needed? They talk about GDP and GNI*. Is there a system that is acceptable in forecasting across Europe and seen as best practice? If not, should there be one?

I return to the question asked by Deputy Lisa Chambers. The delegates said there was €4.7 billion more coming in in corporation tax receipts from ten companies. Would they advise that somebody should be able to give us information on why corporation tax receipts are so buoyant and good? Would it not give us a clearer picture of the data?

I started by saying I was not an accountant. It is good for us, as politicians, to hear the delegates' advice. Based on the forecasts they are presenting, will Mr. Coffey give us a layman's assessment for the person who bothers to listen to the proceedings of this committee of what the average family can expect to happen by 2023 in the context of Brexit, the United Kingdom crashing out of the European Union or if we do not take control of the delegates' advice?

I apologise if this is a very open question but we need to hear the advice of the Irish Fiscal Advisory Council. Would the council give this Government's performance a green or red card?