Oireachtas Joint and Select Committees

Tuesday, 1 July 2025

Committee on Budgetary Oversight

Fiscal Assessment Report: Engagement with the Irish Fiscal Advisory Council

2:00 am

Photo of Mairéad FarrellMairéad Farrell (Galway West, Sinn Fein)
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Okay. It is interesting times ahead. Table 1 of the fiscal assessment report identifies sectors such as pharma, ICT and others being impacted by tariffs. Drinks and food are identified as being the worst hit, which we can understand. We have heard from different sources, such as the Parliamentary Budget Office, PBO, that pharma is unlikely to be impacted based on the fact that it has not been included so far in the tariffs. What is the IFAC projection based on? Is IFAC assuming it will be included, despite it being said otherwise? What is it based on?