Richard Boyd Barrett
Ceist:221. Deputy Richard Boyd Barrett asked the Minister for Public Expenditure and Reform the full-year cost of repealing the FEMPI legislation. [36298/17]
Amharc ar fhreagraWednesday, 26 July 2017
Ceisteanna (221)
Freagraí scríofa
The full year cost of repealing the Financial Emergency Measures in the Public Interest (FEMPI) legislation as it applies to public service employees would be €1.4 billion post full implementation of the terms of the Lansdowne Road Agreement (LRA).
Pay bill increases of this magnitude in one year would: exceed available additional resources; violate the terms of EU Stability and Growth Pact; increase the deficit; increase the national debt and result in reduced shares of Government Expenditure for capital investment and alter measures.
By contrast the phased approach to unwinding FEMPI which commenced with the LRA and will, subject to ratification, continue with the Public Service Stability Agreement 2018-2020, allows for strong fiscal planning, with dedicated resources ring fenced within multi annual expenditure ceilings, and without compromising service delivery or capital investment plans.