Dáil Éireann Debate, Thursday - 21 June 2012
39 Deputy Michael McGrath asked the Minister for Finance if he will outline the process, and estimated timeline for each of the stages, involved in the preparation of budget 2013; and if he will make a statement on the matter. [30193/12]
Amharc ar fhreagraThe "Two Pack" regulations being discussed in Europe propose a common budgetary timeline that includes the presentation of a draft budget by 15 October each year. However, trilogue negotiations between the European Commission, the European Parliament and the Council only commenced recently and it appears that it is extremely unlikely that the regulations will be adopted in time for this year's budgetary cycle. Given the complexities and procedures involved in our Budget process, we simply could not wait any longer for the regulations to be adopted and have decided to proceed as follows. My Department is planning to publish an update of the Medium-Term Fiscal Statement in October of this year and, as is the norm, it is intended that Budget 2013 will be presented to the Dáil in early December, though the exact date has yet to be decided.
The Deputy will also be aware, of course, of the arrangements introduced last year under the new EU-semester, whereby the Stability Programme Update, containing revised macroeconomic and budgetary projections, was prepared and submitted to the European Commission last April. This document was also laid before the Dáil and published on the Department of Finance website. The purpose of these new arrangements is to allow for a more intensive period of peer review of other member-states' budgetary plans, thereby facilitating a greater degree of budgetary coordination across the EU, and they form part of a wider suite of fiscal governance reforms which are emerging at EU level.
Finally, I, as the Minister for Finance, and Brendan Howlin, as the Minister for Public Expenditure and Reform, along with our respective Departments, will work very closely in the compilation of Budget 2013, as the expenditure estimates are obviously a key factor in devising budgetary policy and calculating the overall budgetary arithmetic.
