Prospect of no budget bonanza is welcome news

Despite what some media commentators have suggested about the lack of detail contained therein, the Summer Economic Statement released by the Department of Finance this week is not meant to be a detailed breakdown of what the minister for finance will deliver on the fiscal front, writes Jim Power.

The statement merely sets out the economic and fiscal parameters that will guide budgetary policy in 2019. We will have to wait for the budget in October to get the detail of what is planned.

This week’s statement does give us a very good overview of what will guide budgetary policy in 2019 and thereafter.