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Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Not at this point.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: I will begin with some practical questions. With regard to the appropriation accounts and the financial accounts, and perhaps the Comptroller and Auditor General might answer this, are they the two accounts that should be consolidated or am I mixing up something?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: In one document.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: A fuller picture.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Is the Department accepting this suggestion?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: That is lovely.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: I will refrain from saying so. With regard to page 16 of the finance accounts, there are receipts to the HSE for a substantial amount of money of €101 million in 2015 and nothing in 2016. Will the witnesses clarify this?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Is it money the HSE was giving back to the Department of Finance?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Why was it giving it back?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: It is a practical matter.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: That is fine. With regard to the figures, I do not know whether "amused" is the word. I certainly came here as a greenhorn and remain so with regard to financial matters, but listening to the questions put today by my colleagues I find it extraordinary. The Department is obliged under the fiscal rules to use GDP to report back. Is this a legal obligation?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Even though it is completely unrepresentative of the real economy in Ireland.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: I think it is more than can be, is it not?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: So it is unrepresentative. We are caught in legal rules that do not make sense for our economy.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Okay.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: I heard that and I listened carefully, but GDP in other countries more accurately reflects the economy.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: GDP in this country as measure does not accurately reflect-----

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: -----what is happening in the economy. This seems bizarre. I presume the Department has made representations to the Minister to state this is bizarre, or whatever words it uses.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: That is very good. In a minute I will come to Mr. Moran's statement and try to get to the heart of what constitutes a thriving economy. I have made this point before and I will make it again today, and if I see Mr. Moran before me again I will make it again. He made an opening statement to say the key economic indicators point to continued solid growth this year, and there are almost two...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Catherine Connolly: Appropriate.

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