Budgetary Oversight Committee to examine developments in the national debt profile with the NTMA

7 March 2017

The Committee on Budgetary Oversight will tomorrow meet with representatives from the National Treasury Management Agency to consider developments in the national debt, in the context of its ongoing work on medium term budgeting and its review of the Governments Capital Plan.

The meeting will commence at 2.00pm in Committee Room 2 tomorrow, Wednesday, 8 March 2017.

Committee Chairman, John Paul Phelan TD, said “While the economy continues to grow, we are saddled with a huge debt of over €200 billion and we need to look at the long term sustainability of holding this level of debt. At the same time, with the cost of borrowing being so low and the need for capital investment being so great, the debt situation does not help given the need to comply with the fiscal rules.”

“Tomorrow we have an opportunity to explore with the NTMA the issues that could impact on our borrowing position and also examine its activities in assisting the State in areas such as capital investment through public private partnerships and the use of the strategic investment fund.”

Committee proceedings can be viewed live here.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.

Ends

Media Enquiries:

Liam O'Brien,
Houses of the Oireachtas
Communications Unit
Leinster House
Dublin 2
P: +353 1 618 4484
M: +353 86 189 5098
liam.obrien@oireachtas.ie

Committee Membership:

Chairman: John Paul Phelan (Fine Gael)

Deputies:

Seán Barrett (Fine Gael)
Richard Boyd-Barrett     (AAA / PBP)
Thomas P. Broughan (Independents4Change)
Colm Brophy (Fine Gael)
Joan Burton (Labour)
Dara Calleary (Fianna Fáil)
Lisa Chambers (Fianna Fáil)
David Cullinane (Sinn Féin)
Pearse Doherty (Sinn Féin)
Stephen Donnelly (Social Democrats / Green Party Group)
Marc Mac Sharry (Fianna Fáil)
Michael McGrath (Fianna Fáil)
Kate O'Connell (Fine Gael)
Eamon Ryan (Social Democrats / Green Party Group)