Michael McGrath (Cork South Central, Fianna Fail)
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152. To ask the Minister for Finance the process, and estimated timeline, for each of the stages involved in the preparation of budget 2016; and if he will make a statement on the matter. [29749/15]

Michael Noonan (Limerick City, Fine Gael)
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Budgetary preparation is a "whole-year" process and work has already commenced for Budget 2016.  As part of its reform of the budgetary process, the Government this year published the Spring Economic Statement and established the National Economic Dialogue.  

The Spring Economic Statement set out the emerging economic and fiscal situation and the Government's medium-term fiscal strategy. The Statement draws on my Department's macroeconomic and fiscal forecasts as set out in the Stability Programme Update (SPU). In line with the arrangements introduced under the EU semester, the SPU was prepared and submitted to the European Commission last April.  

The objective of the National Economic Dialogue, which will take place on 16-17 July, is to facilitate an open and inclusive exchange on the competing economic and social priorities facing the Government as we prepare for Budget 2016. A key aspect of the National Economic Dialogue will involve a public call for pre-budgetary submissions that will have regard to the issues arising in the Dialogue.    

In the autumn, the Department of Finance will prepare tax policy papers, to be discussed in early September as part of the Tax Strategy Group process. These will feed into the tax measures considered as part of Budget 2016.

Both myself and my colleague Brendan Howlin, as the Minister for Public Expenditure and Reform, will work very closely in the compilation of Budget 2016. With regard to the expenditure allocations, the Estimates process is ongoing and will be published on Budget day.

As is the norm, the macroeconomic forecasts which underpin the Budget will be subject to endorsement by the Irish Fiscal Advisory Council (IFAC) in advance of publication. The endorsement process will begin soon after the publication of Q2 National Accounts data by the CSO in September. The timelines for this process are laid out in a Memorandum of Understanding between the Fiscal Advisory Council and the Department of Finance, which are available on both websites. Based on these macroeconomic projections, my Department will produce the fiscal and budgetary forecasts, taking into account the end-September Exchequer returns and any policy decisions made as part of Budget 2016.  

In advance of each Budget, normally the Friday before publication, the White Paper on the Estimates of Receipts and Expenditure is published. As the Deputy will be aware, the White Paper sets out an Exchequer forecast for the forthcoming year based on a position of no policy change.

Budget 2016 will be published in conjunction with the publication of the Expenditure Report by my colleague, the Minister for Public Expenditure and Reform, Mr Brendan Howlin TD. The date for publication of Budget 2016 has yet to be confirmed, but will be no later than 15 October.

After publication of our national Budget, in line with European economic governance rules, a Draft Budgetary Plan for the forthcoming year is submitted to the European Commission, again, not later than 15 October.

The Finance Bill will be published shortly afterwards, to be enacted by 31st December. The publication of the Revised Estimates Volume is a matter for Minister Howlin, but will be published before the end of the year.