Tuesday, 30 November 2010
Department of Finance
National Recovery Plan
Question 124: To ask the Minister for Finance the consultation he has had with the EU or International Monetary Fund on the Government's national recovery plan prior to publication; and if he will make a statement on the matter. [45309/10]
The Government's National Recovery Plan 2011-2014 was drafted by my Department, with input from various other Government Departments. The Plan was approved by Government. Following approval by Government, the Plan was shared with representatives from the EU Commission, the ECB and the IMF. I would like to remind the House that the programme of external assistance that we have just agreed with our partners has the policy inputs of the Government's Four-Year Plan embedded within the terms of the Programme.
The forecasts underpinning the National Recovery Plan were compiled in the normal manner that is employed on an annual basis for the Budget and Stability Programme Update. In order to complete the forecasts, the external environment is firstly assessed to compile the export forecasts. The outlook for domestic demand is then assessed taking into account the various budgetary measures. Historical relationships between output, unemployment, prices, etc. are also employed to ensure internal consistency.