Gerald Nash (Louth, Labour) | Oireachtas source

Of course, the Committee on Budgetary Oversight is now in place, as is the Parliamentary Budget Office. They are two very important innovations in terms of robust oversight of expenditure and budget planning in terms of the parliamentary process. Those innovations were introduced in response to the previous financial crisis and deficits identified by international organisations in terms of best practice in this country.

To boil it down, a small number of approximately 15 individuals, with the Minister, Deputy McGrath, and the Minister for Finance, Deputy Donohoe, at the top of that tree if I can describe it as such, are responsible for the allocation of resources. That is suboptimal. It is nowhere near best practice. In my view, this Parliament needs to be empowered and provided with the resources, organisational capacity and financial authority to ensure that the allocation of the resources we have are targeted in the best and most democratic way possible. There is much more we can do to make that a reality. We have a lot of work to do in this space. I am only too willing to work with the Minister in that regard. I am pleased to see his commitment around the introduction of well-being indices, which are an important feature of budgetary planning.

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