Referral to Committee of Macroeconomic Policy Lessons: Motion

Thursday, 8 July 2010

Dáil Éireann Debate
Vol. 715 No. 2

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Deputy Brian Lenihan: Information on Brian Joseph Lenihan  Zoom on Brian Joseph Lenihan  I move:

‘The Irish Banking Crisis: Regulatory and Financial Stability Policy 2003-2008’, by the Governor of the Central Bank, and

‘A Preliminary Report on The Sources of Ireland’s Banking Crisis’, by Klaus Regling and Max Watson, which were laid before Dáil Éireann on 9th June, 2010; and

the role of macro-economic management and surveillance in securing the longterm sustainability of Ireland’s economic performance and also in responding on a timely basis to risks and imbalances that may build-up in both the private and the public sectors of the economy, including external imbalances vis-à-vis other Euro area members and the funding of any imbalances that might arise;

the role of fiscal policy in securing an appropriate alignment of the national business cycle with monetary conditions in the economy;

the requirement for the design and conduct of budgetary and taxation policies to take account of the cyclical nature of particular revenues as well as their temporary nature in certain circumstances in order to maintain an appropriate and effective tax base; and

the case for the establishment of new institutional structures to provide an independent validation of economic and fiscal projections as well as for the introduction of domestic medium-term fiscal rules.

Question put and agreed to.

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