Tuesday, 2 July 2019

Questions (213)

Pearse Doherty

Question:

213. Deputy Pearse Doherty asked the Minister for Finance if annexe 1 on page 38 of the summer economic statement is a hypothetical scenario; if he plans to introduce the measures outlined; and if he will make a statement on the matter. [28147/19]

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Written answers (Question to Finance)

Table A1 of the Summer Economic Statement (SES) 2019 outlines the calculation of the available fiscal space from 2020 to 2024. This is based on 'Scenario A' of the Summer Economic Statement, i.e. an 'orderly' Brexit in October.

As discussed in the SES, Scenario A is consistent with the projections as set out in the Stability Programme Update 2019, accounting for adjustments to expenditure projections.

Decisions on which measures will be introduced will be announced on Budget Day. As the Deputy will be aware, it has not been the practice of the Minister for Finance to discuss the details of measures which may be under consideration as part of the Budget and the Finance Bill.

Finally, as I have stated on numerous occasions, it is important to understand that formulating budgetary policy based solely on what is permissible under the EU fiscal rules is no longer appropriate. Government fiscal policy will be based on what is right for the economy at this point in the cycle, in order to ensure a continued steady and sustainable improvement in living standards and our public finances.