Report published for first time as part of a more transparent budgetary process for Budget 2017
The Minister for Public Expenditure and Reform, Paschal Donohoe T.D., has today (Wednesday) published the Mid-Year Expenditure Report (MYER) for 2016. This first Mid-Year Expenditure Report is a key part of the reformed budget process that began with the publication of the Summer Economic Statement on 21st June and continued with the National Economic Dialogue on 27th and 28th June.
Following on from the Summer Economic Statement – which set out the broad fiscal parameters for Budget 2017 – this Report presents the baseline for Departmental expenditure and provides the starting point for examination of budgetary priorities by the Oireachtas.
The Report also presents analysis by the Department of Public Expenditure and Reform on a number of key issues in the context of the budget. This analysis includes a review of the operation of the reformed expenditure management framework and fiscal rules, a proposed framework for assessing the social impact of public expenditure and an overview of the role of public service reform in ensuring efficient and effective use of public funds.
Speaking at the publication of the Report, Minister Donohoe said: ‘The recovery in Ireland is now well established. The economy is growing strongly, unemployment is falling to below 8 per cent and the public finances are moving into balance’.
“This hard-won recovery gives us the solid economic foundation needed to continue on the path towards a more just society. However, as a country we now face a fork in the road. On the one hand, we can continue down the prudent path of significant but sustainable increases in expenditure accompanied by productivity and reforms. On the other, we can fall back into past mistakes, making large unsustainable increases that will only store up trouble again in the future. There are many forces pulling us down the wrong road and there are many competing – and reasonable – demands for extra resources. However, we cannot forget the experience of the last few year and the hard work that was needed to pull us out of the financial crisis. We must continue to pursue a prudent path and make the right long term choices with the taxpayers’ money so that we can deliver the services that are required, continue to invest where it’s needed and ensure that the future is secure, for all of our people.”
The Mid-Year Expenditure Report 2016 is available here.