Oireachtas Joint and Select Committees

Wednesday, 28 February 2024

Committee on Budgetary Oversight

Impact of Climate on Public Finances: Irish Fiscal Advisory Council

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein)
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I thank Professor McMahon for his opening statement. Many of the costs look set to merge towards the end of the current decade. That is something which is not covered by budgetary forecasts. Ideally, how long would budgetary forecasts extend in the context of covering these costs? Is the forecasting horizon as it stands realistic in light of the backloading as opposed to front-loading of things instead? The professor is suggesting that we should be front-loading, particularly in the context of flood defences and so on for prevention, but it seems as though we are backloading everything.