Dáil Éireann Debate, Wednesday - 12 June 2013
80. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide a list of all publications of forecast accounts from his Department which have been released to date this year, and which will be released for the rest of the year, which provide financial information relevant to Budget 2014, and the timing of their release (details supplied); and if he will make a statement on the matter. [28310/13]
Amharc ar fhreagraIn the past, the Department of Finance has generally released three separate publications containing macroeconomic and budgetary forecasts.
1. The Stability Programme Update, the most recent of which was published on April 30th this year.
2. The Medium Term Fiscal Statement (MTFS), the most recent of which was published in early November 2012.
3. Updated forecasts in the Budget documentation.
As the Deputy will be aware, under the two-pack of European Regulations formally adopted on the 30th of May 2013, a common budgetary timeline has been introduced for all euro area member states. In line with the requirements of the two-pack, Budget day will be on or before the 15th of October each year from now on.
Given the new Budget date, it is proposed to incorporate the information normally published in the Medium Term Fiscal Statement each October/November into the Budget Documentation. Therefore, under the new budgetary framework, both the Stability Programme Update and the Budget will show medium-term macroeconomic and budgetary projections.
The Deputy should also note that the Maastricht returns, which are published in April and October each year by Eurostat after submission by the CSO, contain forecasts calculated by my Department for both the general government deficit and debt for the current year.
