The Department of Finance maintains a Medium-Term Budgetary Framework or MTBF. The MTBF acts as a procedural manual, and provides an overview of the set of arrangements, procedures, rules and institutions that underlie the conduct of budgetary policies by Government. The MTBF is a living document that is revised as appropriate. The MTBF was originally published in December 2013 and was revised in July 2014.
In addition, as a member of the European Union, Ireland is subject to the Stability and Growth Pact (the ‘SGP’), and is also a signatory of the Treaty on Stability, Co-ordination and Governance in the Economic and Monetary Union. Details of the fiscal rules and the legislation underpinning this is contained below.