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Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: I would like a note on that. Does the independent fiscal council consist only of wise men or are there any wise women on it?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: I believe there are five people on the council.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Rather than going through the names-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Is there a vacancy at the moment?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: So it is one out of five----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: -----and there are no vacancies.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Okay. We have gone backwards. We had two and we have gone back to one.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Members are nominated by the Taoiseach, are they?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: He has total latitude in that regard.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: He has seen fit to appoint four men and one woman.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Very good. I thank Mr. McCarthy for that clarification. There was a review of the Irish Fiscal Advisory Council in 2005, which was good. It was an independent review to see whether the council was carrying out its functions.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: It was 2015. The council got the thumbs up in most regards. To go back to a question that was asked, a number of recommendations were made.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: The review that was done. I am referring to it. I am not sure what my colleague was referring to. That was 2015 and a number of recommendations were made in regard to that, and the council in its wisdom decided not to follow two of them. Nobody can answer today as to why.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Does the Department have a memo of understanding with the council?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: There is nothing in regard to recommendations like this.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: Who would be in such a position?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: They have never come before us.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: I will look at the accounts. The legal question has been answered.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: The €14.5 million has been collected. It is sitting in an account and is presumably getting interest.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council
(30 May 2019)

Catherine Connolly: That is what I started out by asking and I was told "No". Maybe I put it badly. The €14.5 million is held there. The situation has improved in that it is making a slight amount of interest.

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