Oireachtas Joint and Select Committees

Wednesday, 30 November 2022

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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I do not want to pick up on the point on deficit and borrowing but I will pick up on Deputy O'Donnell's point about the consistency of the Irish Fiscal Advisory Council's approach. The council was clear in its pre-budget statement that the Government's budgetary stance should strike an appropriate balance between creating space to protect the most vulnerable and the rising cost of living. The summer economic statement had core spending increases of 6.5% for next year, with core spending €4.9 billion higher than earlier plans and a larger than planned tax package. The Irish Fiscal Advisory Council went on to state that it was important the Government stick to its announced budgetary plans. When the budget came, there was €4.2 billion in extra money on the table and the council stated it was the right strategy. It is only fair to ask how seriously we can take what the Irish Fiscal Advisory Council sates before the budget, if after the budget it states an additional €4 billion is the right strategy.