Seanad debates

Wednesday, 26 June 2019

Summer Economic Statement 2019: Statements

 

10:30 am

Photo of Victor BoyhanVictor Boyhan (Independent) | Oireachtas source

I welcome the Minister of State, Deputy D'Arcy, and thank him for coming to the House to discuss the summer economic statement. As Senator McDowell said, and the Minister of State acknowledged, all budgetary policy must be framed against the background of the rising possibility of a disorderly Brexit in the autumn. That was clearly echoed in both the Minister of State's speech and his report, and I commend him on the way in which the report has been laid out by his Department.

I wish to draw the Minister of State's attention to a short paragraph on page 36 of this report, which must be welcomed. It refers to the issue of budget transparency, and claims that access to timely, objective, and accurate information is a precondition for citizens to understand how public resources are being managed, participate in informed debate, and hold the Government properly to account. That is right, and I welcome that. I also acknowledge the reform of budgetary policy and framework. We must achieve openness, transparency, and, ultimately, public accountability in our public resources and finances. That is a good thing which we should welcome.

Finally, I note a commitment here which I wish to acknowledge. At the time of the budget, we will dedicate a citizens' guide to the budget which will be published to explain the key decisions in clear and non-technical language, which is a positive move. This guide will be an objective, self-contained document that focuses on the objectives and content of the budget, presented in a concise and accessible format. It is intended to foster greater understanding of public finances, public finance policy and choices, and ensure members of the public fully understand the budgetary decisions that will impact on their lives. That is important and I wanted to single it out because sometimes, with all the economic and financial jargon of the budget, the punters on the street do not quite understand what is going on. That is a clever move. I welcome it and ask the Minister of State to pass that message on to the Minister and the Department. It is important that, on the day of the budget, we have a concise, simple infographic and some key messages about funds, because this is the public's money. That initiative is welcome. I again thank the Minister of State for his report and for coming to the House today.

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