Dáil Éireann Debate, Thursday - 19 June 2014
47. Deputy Terence Flanagan asked the Minister for Finance if he has considered publishing at budget time a forecast income and expenditure account for the next ten years and a forecast national balance sheet projecting the next ten years; and if he will make a statement on the matter. [26510/14]
View answer49. Deputy Terence Flanagan asked the Minister for Finance his plans to make budget information more user friendly and understandable for the general public; and if he will make a statement on the matter. [26512/14]
View answerI propose to take Questions Nos. 47 and 49 together.
My Department is always considering how to present Budgetary information more clearly. In recent times, we have, for example, published alternative presentations of Exchequer returns, provided presentations and infographics along with the Budgetary material, published monthly revenues and expenditures of all sectors of general government and published working papers on selected issues. Consistent with the requirements of the two-pack, in October, alongside other euro area member states we will be publishing a draft budgetary plan for the first time, and the CSO will be publishing new data on contingent liabilities with potentially large impacts on public budgets, government guarantees, non-performing loans, and liabilities stemming from the operation of public corporations. Under the two-pack our economic forecasts are provided for endorsement to the Irish Fiscal Advisory Council. The Department of Public Expenditure and Reform, under my colleague Minister Brendan Howlin TD has expanded the information provided in the Expenditure Report to include performance budgeting information, comprehensive reviews of expenditure and a new public spending code.
We have also taken part in an IMF Fiscal Transparency Assessment, and the recommendations from that report have been referred to a steering group for consideration and implementation as appropriate. This report includes recommendations relating to a public sector balance sheet and incorporating more information on revenue and expenditure flows in budget documentation.
However, it is important to recognise that the provision of additional information adds a burden to my officials. Adding extra material must be considered carefully so as not to hamper the core forecasting and monitoring requirements that we are legally bound to provide and, which, as a consequence, is our priority. We will continue to improve the budgetary and financial information in all relevant documents, taking care to ensure that it is useful to stakeholders.
