Oireachtas Joint and Select Committees
Wednesday, 3 May 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Examination of EU Fiscal Rules: TASC
Dr. Robert Sweeney:
I would not necessarily see it as a significant increase in its role. I certainly think IFAC would be better placed than the Department of Finance to monitor whether a member state is abiding by its obligations because obviously there is an incentive for the Department of Finance to do what the Department of Finance might do. Obviously, IFAC is more independent of the Government than the Department of Finance. I would not necessarily see that it would have a greatly increased role. It already monitors and comments on the summer economic statement and the April economic statement as to whether the Department of Finance, which produces those statements, produced the relevant data, had the proper projections and so on. There may be some change, but I do not know if it would be beefed up that much.