Michael McGrath
Question:141. Deputy Michael McGrath asked the Minister for Finance the annual cost associated with the running of the Irish Fiscal Advisory Council; and if he will make a statement on the matter. [32492/14]
View answerThursday, 17 July 2014
Questions (141)
Written answers
The Irish Fiscal Advisory Council was established on a statutory basis on the 31 December 2012 under the Fiscal Responsibility Act 2012. The Deputy should be aware that the Irish Fiscal Advisory Council is an independent body in compliance with the requirements of the Treaty on Stability, Coordination and Governance done at Brussels on 2 March 2012.
Any expenditure incurred by the Irish Fiscal Advisory Council in the performance of its functions since its establishment on a statutory basis at the beginning of 2013, is charged on and paid out of the Central Fund.
In 2013, the Fiscal Council received a total of €499,939. So far in 2014, the Fiscal Council has received a total of €359,981.
To facilitate payments from the Central Fund, the Fiscal Council has provided projected costs for the full year in 2014. The projected costs for 2014 are €732,020.
The accounts of the Fiscal Council are audited by the Comptroller and Auditor General, who is required to make a report to Dáil Éireann with respect to the correctness of the sums brought to account by the Fiscal Council in the year. The Fiscal Council's 2013 accounts are currently being audited by the Comptroller and Auditor General.
In due course, the Fiscal Council will send a copy of the audited accounts for 2013 to my Department and I will lay them before the Houses of the Oireachtas.