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Publication of the General Scheme the Fiscal Responsibility Bill 2012
Finance Minister Michael Noonan today published the General Scheme of the Fiscal Responsibility Bill 2012. This General Scheme sets out the draft legislation that the Government will bring before the Houses of the Oireachtas to implement key provisions of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union ("the Stability Treaty"), if the Irish people decide to ratify the Stability Treaty in the forthcoming referendum.
Commenting on the publication, Minister Noonan stated:
The General Scheme of the Fiscal Responsibility Bill, which is published today on Department of Finance website, outlines the legislation that underpins the fiscal rules in the Stability Treaty. These rules are sensible and prudent and represent a responsible approach to budgeting.
The Government is committed to ensuring that the public will be fully informed on the implication of the treaty and will have access to all available information to enable them to make an informed decision. Information leaflets are being circulated to every home in Ireland in the coming week and a website www.stabilitytreaty.ie is now up and running.
The Treaty and the publication today of the Bill is another important part of this information process.
The Scheme of the Bill is available at http://www.finance.gov.ie/documents/publications/other/fisresbillscheme.pdf