The Irish Fiscal Advisory Council hosted its fifth annual conference focusing on long-term public finance issues online on 8th-9th February 2021. The conference focused on the theme of fiscal policy in the era of high public debt and low interest rates that follows the outbreak of Covid-19. The conference had two sessions: the first looked at fiscal policy of high debt conditional on current interest rates (debt sustainability analysis; what does it means for the fiscal rules, how should policymakers respond). The second took a more “big picture” look at the sustainability of low interest rates given high public debt, ageing, financial implications and whether such pressures might influence monetary policy.