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Fiscal Advisory Council appointees a missed opportunity

8 July, 2011


Speaking on route to the Sinn Féin Summer School being held this
weekend in west Cork Deputy McDonald said:
"Minister Noonan told us that the Council would provide an independent
assessment of the Government’s budgetary plans and projections to
inform the public discussion surrounding economic and fiscal matters.
"Yet Minister Noonan has failed to appoint a single expert to the
Fiscal Advisory Council from outside the economic establishment. All
of the appointees have a long list of achievements and qualifications
but all have also held senior roles in so called 'expert'
organisations that failed to put their heads above the parapet as the
economy over heated, or indeed when it started to slow from 2006
onwards. The appointees individually have worked for the OECD, IMF,
NESC, Central Bank or the ERSI, none of which have proven to be
bastions of alternative thinking or critical engagement.
“The Fiscal Advisory Council was a real opportunity to bring in a
progressive economist from outside the circle who would challenge the
status quo in fiscal planning and budgetary oversight. Minister
Noonan's failure to do so is a missed opportunity.” ENDS

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