Written answers
Thursday, 25 September 2008
Department of Finance
Fiscal Policy
5:00 pm
Jan O'Sullivan (Limerick East, Labour)
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Question 41: To ask the Minister for Finance his views on the introduction of a debt ceiling which would limit the national debt to a certain proportion of national income; and if he will make a statement on the matter. [31331/08]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Under the terms of the EU Stability and Growth Pact (SGP) Ireland already adheres to a debt ceiling. In line with the provisions of the SGP, all EU Member States agree to respect a general government debt ratio of 60% of GDP. The general government debt is the standard measurement of gross debt used for comparative purposes within the Union.
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