Press Release for Statement of Strategy 10 May 2012
The Department of Finance has today published the 2012 revision of the Department's Statement of Strategy 2011-2014. The Statement was officially launched in the Department of Finance this morning and the Secretary General, Mr. John Moran presented the Strategy to key stakeholders.
In the statement the Department sets out its mission: “to manage Government Finances and play a central role in the achievement of the Government's economic and social goals having regard to the Programme for Government. In this way we will play a leadership role in the improvement of the standards of living of our citizens.”
In order to achieve these goals the Department says it will be more forward and outward looking and find innovative solutions for the problems faced by the country. The statement identifies a path to achieving this mission with specific goals and outcomes in line with the Programme for Government as well as strategies to achieve these goals and, importantly, performance measures which will be benchmarked with EU and international norms.
The statement also sets out the revised organisational structure of the Department. This structure will be based on four key policy divisions - International, Fiscal, Financial and Economic - and the establishment of a Corporate office and a Finance office.
The Statement of Strategy identifies how resources will be realigned, adapted and enhanced in order for the Department to meet its objectives.
Each Government Department is required to present their Statement of Strategy to Government and publish their strategic plan to cover the period 2011-2014.
The Department’s Statement of Strategy is divided to cover two main time periods - 2011 to 2012 and 2012 to 2014. For 2011 the Department goals and objectives were principally driven by the EU/IMF programme and the restoration of stability to the banking system. Significant progress has been made in achieving these goals throughout the course of 2011 and the Strategy document sets out these achievements. The Department proactively revisited these goals for 2012-2014, and the revision of the Statement of Strategy sets out the Departments objective and strategy to contribute to enhanced confidence and delivering sustainable growth in our economy.
The Secretary General John Moran said
"For 2011, the Department had established goals, many of which were driven by the commitments under the EU/IMF funding programme. Very significant progress has been achieved in the furtherance of these goals. We believe that building on that progress, it is appropriate for 2012 to proactively revisit these goals. We are redirecting our own primary focus more towards the identification and implementation of measures which will contribute to enhanced confidence, delivering sustainable growth in our economy and thereby repair the damage caused to the lives of citizens, the economy and the banking sector.”
Notes to Editor
Structure of the Department
Five Principal Goals
A resilient Irish economy founded on sustainable and balanced growth and leading to significant increases in employment numbers.
A sustainable macroeconomic environment and sound public finances.
An improvement in the living standards of our citizens.
Return by Ireland to international debt markets so as to achieve an exit from the EU/IMF funding programme at the earliest possible date.
Completion of the restructuring of the banking system and a vibrant, secure and well regulated financial sector.