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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: 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.

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 am picking up Mr. Moran on the statement that the economy is thriving but to go back to the GDP, he is saying the Department is being forced to do that under the rules. It is difficult for me to understand that and then try to explain to somebody else that we are literally playing some type of game. Until now, we were not allowed spend money on housing because that was throwing money at...

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 any more, but he was on it.

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 him talk recently about not throwing money at the economy and using that type of terminology. I am trying to get my head around it. What type of economy do we have when we have a major housing crisis in Galway? Dublin is mentioned frequently but in Galway, people are on a waiting list since 2002 because we have not built a single social house since 2009. I prefer to use the term...

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