Peter Burke (Longford-Westmeath, Fine Gael)
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I welcome Mr. Coffey and the other witnesses from the Irish Fiscal Advisory Council. The report is detailed and welcome. The Irish Fiscal Advisory Council makes a key contribution to the budgetary process, one which makes it more robust and ensures it is transparent. Under the current budgetary process, better and more detailed information reaches those who are making the decisions. The Irish Fiscal Advisory Council acts as a key adviser on the spring and summer economic statements. We also have the national economic dialogue for the various sectors, tax strategy papers, the mid-year expenditure report and the key work this committee does in adjudicating on the work of the relevant agencies. How much has this process assisted in making better decisions in the budget and how can it be improved? We had a history in previous decades of big announcements being called off on budget day and rabbits being pulled out of the hat without notice and with no stress testing done.