Fiscal Responsibility (Statement) Bill 2011

10 Pages Posted: 16 Jun 2013

See all articles by Charles James Larkin

Charles James Larkin

Institute for Policy Research (IPR), University of Bath; Trinity College Dublin

Sean Barrett

Trinity College (Dublin) - Department of Economics

Date Written: December 7, 2011

Abstract

The aim of this legislation is to put in place a soft fiscal rule based upon transparency of action on the part of the Government of the day with respect to budgetary decisions. Fiscal rules take many forms. In the Germany and in the US states, these rules typically are a constitutional provision. Legislation and statutory instruments that conform to the institutional structure of that country typically support the constitutional provision. Since that capacity does not exist within legislation initiated within Seanad Éireann, the fiscal rule presented is legislative. Most of the economic analysis has a strong preference for a fiscal rule being incorporated into the fundamental law (constitution) of a country due to the increased transparency and durability of the rule.

Keywords: Fiscal Rules, Fiscal Responsibility, Economic Legislation

Suggested Citation

Larkin, Charles James and Barrett, Sean, Fiscal Responsibility (Statement) Bill 2011 (December 7, 2011). Available at SSRN: https://ssrn.com/abstract=2279448 or http://dx.doi.org/10.2139/ssrn.2279448

Charles James Larkin (Contact Author)

Institute for Policy Research (IPR), University of Bath ( email )

10 West
Claverton Down
Bath, BA2 7AY
United Kingdom

Trinity College Dublin ( email )

AAP College Green
Dublin 2
Ireland

Sean Barrett

Trinity College (Dublin) - Department of Economics ( email )

Dublin 2
Ireland

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