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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: Yes. It is a simple question.

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 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: We did, yes.

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: Just let me-----

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: Mr. Moran can come back in-----

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: -----on the Chairman's time, but I am trying to understand it. Economists and financial people talk about not overheating the market or throwing money into the market and making a bad situation worse but I am looking at a figure of €301 million going into a rental market that clearly is not sustainable. It continues to rise. Most people are evicted for non-payment of rent, as I...

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: Yes.

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 understand that, but I do not agree with what the Department is doing. Mr. Moran is using the market language to justify something yet when it comes to the GDP, it is a very serious game. I am not saying Mr. Moran is playing a game but he is being forced to play a game. He is actually not complying with the law in regard to GDP. As a country we are not complying with our obligations yet...

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 nine pages long, and Mr. Moran is talking about the fundamentals of the economy being solid and thriving.

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: No. Anyway, I am running out of time because I have to be somewhere else. I cannot accept that the fundamentals of an economy are good if almost 10,000 people are homeless, and that figure is rising, the waiting lists are getting longer and we are channelling money into the private market that is already overheated. I cannot accept that the fundamentals are right. Mr. Moran can either...

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: Absolutely.

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 not being done because-----

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: -----the social housing term is being used to house people in private houses.

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: No. It is not a policy-----

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: Chairman, I ask that Deputy Farrell would allow me deal with this. I am within my time and I will finish within my time. If I have a nine-page document telling me that the economy is fundamentally sound, and if Mr. Moran is sticking to that, then I have to interpret that as meaning that the collateral damage of a good, functioning economy is 10,000 people homeless and a major housing...

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: Mr. Moran is entitled to his opinion. To conclude, as I do not want to upset Deputy Farrell regarding a viewpoint about housing, what confirms my opinion on this is that, as I said, we are playing games with official figures. We are actually breaking the law. Is there a way out of that? Is there a way we are not breaking the law when we are breaking the law?

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: Absolutely.

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: Yes, the Department complies with the law.

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 does not reflect what is going on in the economy, and so it is not accurate. Is that correct?

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