Wednesday, 8 May 2019

Questions (156)

Catherine Connolly

Question:

156. Deputy Catherine Connolly asked the Minister for Finance if he will provide an updated version of table 3 from the Summer Economic Statement 2018 taking account of measures in Budget 2019 and changes to other economic indicators in particular the figure for net fiscal space in Budget 2020; and if he will make a statement on the matter. [19399/19]

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Written answers (Question to Finance)

I have outlined previously that a disproportionate focus on the concept of fiscal space risks encouraging a profligate fiscal policy that could jeopardise the sustainability of our public finances. In formulating budgetary policy the Government must be guided by what is right for the economy at this point in the cycle, not by what is technically permissible within the limits of the fiscal rules.

The Summer Economic Statement 2019 will include projections for fiscal space, which will take into account the most up to date information. As I stated in my recent appearance before the Budget Oversight Committee, I am considering how best to present this information in order that it be useful and informative.