Oireachtas Joint and Select Committees

Tuesday, 11 June 2019

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

Photo of Peter BurkePeter Burke (Longford-Westmeath, Fine Gael)
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The Secretary General of the Department of Finance was before us in the Committee of Public Accounts two weeks ago and we could challenge him in a number of ways in terms of the various different concerns that arose in one of the Irish Fiscal Advisory Council's previous reports. In July 2018, the Irish Fiscal Advisory Council carried out a report on designing a rainy day fund that can fit in with the fiscal rules in terms of deploying it in a counter-cyclical manner. I note that the Irish Fiscal Advisory Council mentioned the establishment of a prudence fund to put additional corporation tax receipts into. How would the deployment of same work with the fiscal rules? Could the witnesses expand on that aspect a little bit?