Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I do not believe the Irish Fiscal Advisory Council got it wrong. I agree with the main thrust of its advice, as I always have. The council operates in very much the same space as the Government and me. There is disagreement about some elements of detail, and much of the detail the council has focused on is due to a misunderstanding of what was in the stability programme update. I do not know the reason the council did not take into account the forecasts of the European Commission and did not acknowledge the Commission's statement that, on current trends, the Government will be entirely within the fiscal rules on budget day. The Commission has stated that we will achieve an adjustment of 0.8%, rather than the 0.6% adjustment required. I will reply in detail, as I am required to under law, and we will deal with all the issues. However, I do not see any great conflict between me and the Irish Fiscal Advisory Council. The Deputy must appreciate that the council has a difficult job. As it is mandated to give a counter-view, it must search around for such a view, even when it agrees with me.

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