Oireachtas Joint and Select Committees
Wednesday, 23 October 2024
Committee on Budgetary Oversight
Ireland's Medium-Term Fiscal and Structural Plan: Irish Fiscal Advisory Council
5:30 pm
Rose Conway-Walsh (Mayo, Sinn Fein)
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It might be something worth looking into in terms of the transparency of future estimates.
Does IFAC assess the level of public expenditure based on the share of the real economy, which is obviously GNI*? From my own estimates, when I compare either net expenditure or general Government expenditure, it shows we are spending less today than we were in 2019, the year before the current Government came into power. That paints a very different picture from that portrayed by the Government when it talks about the millions and billions being spent. It is very different from the one given by IFAC. I would appreciate IFAC's views on the potential to use public spending as a share of the real economy, GNI*, and the potential for something like that to be used by a party for its own fiscal approach.