Dáil Éireann Debate, Tuesday - 24 April 2018
122. Deputy Michael McGrath asked the Minister for Finance if a convergence margin will apply in the calculation of net fiscal space for 2019 as a result of Ireland potentially not meeting its MTO in 2018 as stated in the stability programme update 2018; and if he will make a statement on the matter. [17703/18]
View answer128. Deputy Pearse Doherty asked the Minister for Finance the estimated impact on fiscal space in 2019 and beyond of a failure to reach the medium term objective in 2018, in legal and accounting terms in tabular form with the fiscal space in 2019 and beyond in such a situation. [17755/18]
View answerI propose to take Questions Nos. 122 and 128 together.
Assessment of compliance with the fiscal rules and, in particular, whether the MTO is achieved is undertaken by the European Commission on the basis of its Spring Economic forecasts. These will be published in early-May.
So I will return to this issue in the Summer Economic Statement.
Finally, as I have stated on numerous occasions, the Government will formulate budget policy based on what is right for the economy, and will not adopt pro-cyclical policies that jeopardise the sustainability of our public finances and our future living standards.
