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 Eireann, 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.
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