Menu
22/06/2016
Summer Economic Statement For 2016 Published
The new Summer Economic Statement for 2016, which forms the basis for political discussions on the revised budgetary process for Budget 2017, has been published by Minister for Finance Michael Noonan, and Minister for Public Expenditure and Reform Paschal Donohoe.
Speaking at the publication of Statement Minister Noonan said: "The Summer Economic Statement shows that the budgetary position is set on a safe and sustainable path and Ireland has now formally exited the Excessive Deficit Procedure. The Fiscal Space for 2017 will be just shy of €1 billion. It is projected that Ireland will have a balanced budget in 2018. A new element in providing for key services for our citizens will be the introduction of a rainy day fund from 2019 following the achievement of a balanced budget.
"This is a prudent approach which reflects the lessons learned from the past. As the Irish economy tends to be more variable than elsewhere it is appropriate to set aside a certain amount each year. This can be used to support activity and employment if necessary. This counter-cyclical planning is now becoming available to us as our economy is growing strongly even though we have been conscious of the theory and its benefits before now."
(MH/CD)
Speaking at the publication of Statement Minister Noonan said: "The Summer Economic Statement shows that the budgetary position is set on a safe and sustainable path and Ireland has now formally exited the Excessive Deficit Procedure. The Fiscal Space for 2017 will be just shy of €1 billion. It is projected that Ireland will have a balanced budget in 2018. A new element in providing for key services for our citizens will be the introduction of a rainy day fund from 2019 following the achievement of a balanced budget.
"This is a prudent approach which reflects the lessons learned from the past. As the Irish economy tends to be more variable than elsewhere it is appropriate to set aside a certain amount each year. This can be used to support activity and employment if necessary. This counter-cyclical planning is now becoming available to us as our economy is growing strongly even though we have been conscious of the theory and its benefits before now."
(MH/CD)
Related Irish News Stories
Click here for the latest headlines.
29 April 2015
Spring Economic Statement A 'Bitter Disappointment' - FF
The government's Spring Economic Statement has been described as a "bitter disappointment to thousands of families", by Fianna Fáil spokesperson on Public Expenditure, Sean Fleming. Deputy Fleming called the statement "a complete damp squid".
Spring Economic Statement A 'Bitter Disappointment' - FF
The government's Spring Economic Statement has been described as a "bitter disappointment to thousands of families", by Fianna Fáil spokesperson on Public Expenditure, Sean Fleming. Deputy Fleming called the statement "a complete damp squid".
23 September 2015
Govt To Invest €30m In Rural Towns And Villages
The Government is to invest €30m in rural towns and villages between 2016 – 2021, Ministers Alan Kelly and Ann Phelan announced on Tuesday.
Govt To Invest €30m In Rural Towns And Villages
The Government is to invest €30m in rural towns and villages between 2016 – 2021, Ministers Alan Kelly and Ann Phelan announced on Tuesday.
31 May 2018
Gender Equality Must Be Central To Budget 2019 - FF
Gender equality must be central to Budget 2019, Fianna Fáil's Finance Spokesperson, Michael McGrath, has said. Deputy McGrath called on Minister for Finance, Paschal Donohoe, to make progress on the recommendation to prepare an Equality Budget Statement as part of Budget 2019.
Gender Equality Must Be Central To Budget 2019 - FF
Gender equality must be central to Budget 2019, Fianna Fáil's Finance Spokesperson, Michael McGrath, has said. Deputy McGrath called on Minister for Finance, Paschal Donohoe, to make progress on the recommendation to prepare an Equality Budget Statement as part of Budget 2019.
05 October 2016
SF Proposals On Tourism Are "Reckless And Irresponsible" - Troy
Sinn Féin's proposals for tourism in its alternative Budget 2017 are "reckless and irresponsible", according to Fianna Fáil's Spokesperson on Tourism, Robert Troy. Deputy Troy said plans by the party to increase the VAT rate on hotel beds are "dangerous" due to the "fragile state" of Ireland's tourism industry.
SF Proposals On Tourism Are "Reckless And Irresponsible" - Troy
Sinn Féin's proposals for tourism in its alternative Budget 2017 are "reckless and irresponsible", according to Fianna Fáil's Spokesperson on Tourism, Robert Troy. Deputy Troy said plans by the party to increase the VAT rate on hotel beds are "dangerous" due to the "fragile state" of Ireland's tourism industry.
12 October 2016
Funding Allocated For Housing In 2017 'Transformational' - Coveney
Additional funding allocated for housing in 2017 has been described as "transformational", by the Minister for Housing, Planning, Community and Local Government, Simon Coveney. In Budget 2017, the Government is allocating €1.2 billion to housing programmes, a 50% increase over 2016.
Funding Allocated For Housing In 2017 'Transformational' - Coveney
Additional funding allocated for housing in 2017 has been described as "transformational", by the Minister for Housing, Planning, Community and Local Government, Simon Coveney. In Budget 2017, the Government is allocating €1.2 billion to housing programmes, a 50% increase over 2016.
-
Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
