The National Economic Dialogue is the principal forum for Ministers, representative bodies such as Chartered Accountants Ireland, employer representatives, trade unions and social campaigners to raise issues for consideration in October’s Budget. The event was held prior to the publication of the Summer Economic Statement.

Attending the event Chartered Accountants Ireland representatives stressed that the key to rapid economic recovery lies in re-establishing high level quality employment which in turn will generate additional income tax and PRSI to fund the Exchequer as we rebuild our society and economy. Member surveys indicate that as pension scheme auto-enrolment measures and statutory sick pay entitlements which rebalance supports between the public and private sector are broadly accepted, but the Institute emphasised that such supports come at a cost to private enterprise. The Institute also noted that while Ireland’s economic outlook is positive, short-term uncertainty means that the continuation of wage supports and COVID-19 business supports is crucial.

The event this year included contributions from An Taoiseach Micheál Martin, Minister for Finance Paschal Donohoe, Minister for Public Expenditure and Reform Michael McGrath, Tánaiste and Minister for Enterprise Trade and Employment Leo Varadkar along with seven other Government Ministers.

An Taoiseach Micheál Martin noted that the current level of spending by the Government is not sustainable and must move to the next stage while also stating that housing is at the centre of our recovery.

Minister for Finance Paschal Donohoe said that the State cannot continue to run an expansionary budgetary policy while economic growth accelerates.

Minister for Public Expenditure and Reform Michael McGrath said that finances must be managed sensibly as we emerge from Covid to avoid major problems down the line.

The Institute was represented at the event by Brian Keegan and Norah Collender of the Advocacy and Voice department.