The 2010 Budget represents a futher step in the process of getting Irish
fiscal policy back onto a sustainable path. This process started with the
2009 Budget published in October 2008, and continued, inter alia, with the
Supplementary Budget in April this year.
Over recent months, the global economy has begun to show some signs of recovery and there is growing
evidence that the worst may be over in terms of the domestic downturn.
The preparation of this year’s budget has to take into account the
downward trend in tax revenue during 2009, the potential for public
expenditure changes that can yield savings in the shortrun, and the signal
created by the Budget itself to international markets where Ireland is
borrowing to fund the shortfall in revenue given current expenditure
The Budgetary preparation can also be informed by the
recently published report of the Commission on Taxation, the report of the
Special Group on Public Service Numbers and Expenditure Programmes (also
referred to as An Bord Snip Nua or the McCarthy Report). In addition, ESRI
researchers have responded to the crisis by producing several research
papers during 2009 of particular relevance to budgetary policy.
This year’s Budget Perspectives Conference, co-hosted by The Economic and Social
Research Institute and the Foundation for Fiscal Studies, provides several
inputs to inform macroeconomic decision making in these challenging