Tuesday, 2 July 2013

Questions (96)

Charlie McConalogue

Question:

96. Deputy Charlie McConalogue asked the Minister for Finance in the absence of a revised medium term fiscal statement in 2013, if he plans to provide an update on the size and composition of the 2014 fiscal adjustment prior to budget day; and if he will make a statement on the matter. [31917/13]

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Written answers (Question to Finance)

As the Deputy is aware, Budget day will be on or before the 15th of October each year from now on, in line with the requirements of the two-pack of European Regulations formally adopted on the 30th of May 2013. Given that the Medium Term Fiscal Statement (MTFS) was published each October/November in prior years, it is proposed to incorporate the information normally published in the MTFS into the Budget Documentation. As such, the size and composition of adjustment will form part of the budgetary discussions themselves and will not be published prior to Budget day. I would like to reiterate that the Government remains committed to reducing the deficit below 3 per cent of GDP by 2015 and all budgetary decisions will be made with this overarching objective in mind.