Share

Posts in the "Government Spending" category

Opening Statement to the Budgetary Oversight Committee

Posted on September 13, 2016 by Tom McDonnell

Public sector employment - NERI blog on public sector employment in the Republic of Ireland
NERI blog on public sector employment in the Republic of Ireland

The Select Committee on Budgetary Oversight commenced a series of pre budget hearings last week with contributions from DKM, NERI, the Irish Central Bank, and the ESRI. The hearings will continue this week with contributions from the Fiscal Council and from the European Commission and then next week with contributions from the Minister for Public Expenditure and Reform, the Revenue Commissioners and the Minister for Finance. The pre budget report is due to be finalised on the 29th of September in advance of the budget.

It will be interesting to see whether the report has an influence on the policies announced on budget day. In any event the Committee should become more influential in future years once it beds down as a year long presence.

Read the full entry »

Permanent link | Categories: Government SpendingInvestmentMacroeconomics

Fiscal Space: A Short Primer

Posted on June 23, 2016 by Tom McDonnell

Government Buildings - Budgeting for the future
Budgeting for the future

The parameters for Budget 2017 are set by the requirements of the preventive arm of the Stability and Growth Pact (SGP). The preventive arm is assessed under two main pillars. These are the Structural Balance Rule and the Expenditure Benchmark Rule.

Read the full entry »

Permanent link | Categories: Government SpendingInvestmentMacroeconomicsTaxation

UK Budget 2016 - Ominous Revisions

Posted on March 16, 2016 by Paul Mac Flynn

Today's statement in the House of Commons marked George Osborne's eighth budget in just under six years as Chancellor. Whilst there were many eye-catching policies such as a tax on sugary drinks and reforms to ISAs, they could not distract from some major revisions to UK economic growth. The Office for Budget Responsibility cut their forecast of UK GDP growth in 2016/17 to 2%, down from 2.4% outlined last November. GDP forecasts are cut further by an average of 0.3% out to 2020, putting significant strain on the Chancellors commitments on the public finances.

Read the full entry »

Permanent link | Categories: Government SpendingMacroeconomicsNorthern Ireland Taxation

Fiscal Space, Irish Water and Water Charges

Posted on March 07, 2016 by Tom McDonnell

Water Network - NERI inBrief on alternative methods of charging for water
NERI inBrief on alternative methods of charging for water

In an earlier blog I noted that the government's available fiscal space over the next five years, after accounting for demographic costs and the indexing of public spending for inflation, would be somewhere in the region of €2.5 billion to €4.5 billion. The Fiscal Council estimate €3.2 billion. The fiscal pressure eases somewhat if, as expected, the European Commission ends up allowing an additional €1.5 billion of leeway over the next five years.

The upshot is that the space for increasing real spending on health, housing, education, infrastructure and other areas of public spending will be highly constrained over the next five years in the absence of measures to increase government revenue.

Read the full entry »

Permanent link | Categories: Government SpendingInvestment

Fiscal Rules, Fiscal Space and Growth Friendly Fiscal Policies

Posted on February 12, 2016 by Tom McDonnell

Wealth25Sep

The reformed Stability and Growth Pact (SGP) and the creation of the Irish Fiscal Advisory Council (IFAC) have enhanced supervision of Irish fiscal policy and reduced the range of feasible fiscal stances an Irish government can promise or take. This new reality was brought into sharp focus with the recent debate about 'fiscal space'. The fiscal space represents the projected amount of additional resources available for public spending over a period of time.

Read the full entry »

Permanent link | Categories: Government SpendingInvestmentMacroeconomicsTaxation

Fiscal Implications of Demographic Changes in the Healthcare Sector

Posted on February 09, 2016 by Paul Goldrick-Kelly

The fiscal impact of predicted changes in the size and age structure of the Irish population represent a major challenge for policy planners. This paper provides estimates of the costs to the public healthcare system in real terms attributable to demographic changes over the next two decades.

Permanent link | Categories: Government Spending

Tackling Economic Inequality

Posted on January 20, 2016 by Micheál Collins

Economic Inequality

One could write a book, indeed volumes, on the topic of economic inequality and its possible causes, implications and remedies. In a blog (based on a short input to a recent conference) it is only possible to point towards a number of key issues; specifically six core areas relevant to our thinking on how we might more comprehensively tackle economic inequality. The list is not intended to be either ordered or all-encompassing, rather it offers a number of policy pointers – particularly relevant to the evolving policy positions and thinking of various political parties in advance of Election 2016.

1. Jobs and Long-term Unemployment

Read the full entry »

Permanent link | Categories: GenderGovernment SpendingInequalityJobsTaxation

NERI Seminar: Demographic Change and Expenditure Pressures in Ireland

Posted on January 14, 2016 by Daragh McCarthy

Publication cover - NERI Seminar—Thomas Conefrey, Demographics, Jan 2016 - Cover image for NERI Seminar—Thomas Conefrey, Demographics, Jan 2016
Cover image for NERI Seminar—Thomas Conefrey, Demographics, Jan 2016

The latest NERI seminar, 'Estimating Demographic Change and Expenditure Pressures in Ireland over the Medium-Term: Preliminary Analysis', was held yesterday afternoon in the INTO Learning Centre. Dr Thomas Conefrey, Chief Economist at the Irish Fiscal Advisory Council, presented preliminary work that attempts to quantify the likely pressures on the government finances in Ireland due to population ageing and other demographic trends over the next 50 years. Slides from the presentation are available below:

 

Slides

 

Thomas Conefrey, ‘ Demographic Change and Projections for the Public Finaces over the Medium Term ’ NERI Seminar Series, 13 January 2016, Dublin  

Permanent link | Categories: Government Spending

Low tax, low spend?

Posted on January 06, 2016 by Tom McDonnell

twenty euro close up

The NERI’s Quarterly Economic Facts contains a range of indicators on the public finances. One of these indicators compares levels of government revenue and public spending in the Republic of Ireland (Ireland) with that of other EU economies. The basic method of comparison is to measure total government revenue and total public spending as percentages of GDP. Total general government revenue is largely obtained from taxes and social security contributions but also includes other receipts of public authorities. The largest items of public spending by function are social protection measures (mainly social transfers), followed by spending on health and then spending on education. The early exchequer returns for 2015 suggest the public finances were approaching balance in 2015. An exchequer deficit of €62 million was recorded with an underlying exchequer deficit in 2015 of close to €3.4 billion.

Read the full entry »

Permanent link | Categories: Government SpendingTaxation

Nothing comes from nothing: the case of health

Posted on December 06, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

Health is better than gold or ‘is fearr an tsláinte ná an t-ór’ as the saying goes in Irish. Economists and statisticians tend to think of health as a cost as well as a sphere of activity involving consumption of resources in the present time. Health, however, has two dimensions: (i) It is a state of well-being for which all strive because it concerns body and mind and goes beyond narrow notions of ‘satisfaction’ or ‘utility’; and (ii) It involves work, behaviour, caring, time and money which enables people to be healthy not just this year but for years to come (hence it is an investment activity as well as a consumption activity).

Read the full entry »

Permanent link | Categories: Government SpendingNorthern Ireland Taxation

(75 blog posts)