Oireachtas Joint and Select Committees
Tuesday, 8 December 2020
Committee on Budgetary Oversight
Post-Budget Analysis: Irish Fiscal Advisory Council
Patricia Ryan (Kildare South, Sinn Fein)
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I was going to come to pensions.
I was going to say in respect of post-Covid challenges there is a section of the report dealing with demographic changes. The council makes a point that the pension deficit should start to bite after 2030. My understanding is that the council forecasts for economic growth for the period thereafter are approximately 1%. This means our economy would enter a phase of secular stagnation. Given that low growth is a driver of fiscal unsustainability, what policies for long-term growth does IFAC see as necessary to boost growth by extension of fiscal sustainability?