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

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

It is also necessary, though, to look at inflation. We never signed up to the restrictive Fine Gael 5% spending rule. I believe we have been proven right in relation to inflation. Of the three examples that IFAC gave us in its submission, namely, the Netherlands, Finland and Sweden, the first two specifically take inflation into account and look at the increases in spending in real terms. Does IFAC now accept the inherent weakness in the 5% spending rule of Fianna Fáil and Fine Gael?