Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

This amendment will provide for the publication of a report outlining where compliance with EU fiscal criteria has precluded public investment or required public services or infrastructure to be delivered off balance sheet with the additional costs associated with such short-term expenditure versus long-term investment. It is important to recognise the EU fiscal rules do not limit the level of Government expenditure, nor do they require infrastructure to be delivered off balance sheet. Additional public investment is always possible if it is matched by revenue-raising measures or offsetting expenditure adjustments elsewhere or both. In addition, to avoid penalising spikes in Government investment, the framework allows investment to be smoothed over a four-year period.

I take the opportunity to bring the Senator's attention to the review of EU economic governance which the Commission relaunched. This review provides an opportunity for stakeholders to engage in this public debate to build a consensus on the future of the governance framework. I encourage the Senator to engage in the debate through various forums and will be happy to engage with her further, but I am not in a position to accept the amendment.