In parallel with the comprehensive review of expenditure, the Government is also reforming and modernising the entire system of budgetary management. Under our government programme and the EU-IMF agreement, this Government is committed to introducing an independent fiscal advisory council. This should be in place by the summer on an interim basis. A fiscal responsibility Bill will include numerical fiscal rules and provide for a medium-term fiscal framework. As part of that framework, we will set out multi-annual expenditure ceilings.

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