Friday, 6 September 2019

Questions (91)

Michael McGrath

Question:

91. Deputy Michael McGrath asked the Minister for Finance the forecasted Exchequer borrowing requirement under the scenario outlined in table 6 of the summer economic statement; and if he will make a statement on the matter. [35280/19]

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Written answers (Question to Finance)

The Exchequer Borrowing Requirement (EBR) is a bottom-up forecast based on updated macroeconomic forecasts endorsed by the Irish Fiscal Advisory Council (IFAC). The forecast is conducted twice annually; in Spring, in advance of the Stability Programme Update, and again in Autumn, in advance of the Budget. Therefore there is no EBR forecast corresponding to Summer Economic Statement 2019. Instead, the Summer Economic Statement provides a top-down estimation of the resources expected to be available for the forthcoming Budget.

The next formal EBR forecast will be set out in the White Paper on Receipts and Expenditures which will be published in advance of the Budget and will set out the no-policy-change position for 2020.