Oireachtas Joint and Select Committees
Tuesday, 11 June 2019
Committee on Budgetary Oversight
Fiscal Assessment Report: Irish Fiscal Advisory Council
Pearse Doherty (Donegal, Sinn Fein)
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On the prudence fund, I hear the witnesses' clear view that the design of the fund is secondary to the concept of the need to just delete that from the accounts and separate it in terms of looking at what resources are available. Is the council concerned in this regard? The report states that it can be put into the rainy day fund but the problem is that it is then locked away and cannot be used for Brexit mitigation measures under the fiscal rules, as we know. Would it not be more appropriate not to do that at this point in time, given the fact a hard Brexit risk has intensified since the council's last report?