Oireachtas Joint and Select Committees

Wednesday, 24 April 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report 2013: Discussion with Irish Fiscal Advisory Council

4:55 pm

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour) | Oireachtas source

I have one issue that I want to follow up. Perhaps I did not explain the question on the structural balance or deficit correctly.

The construction industry is now operating at a level below the sustainable level. Based on population growth, it should be operating at a slightly higher level to cater for this growth. My question is whether it is worthwhile to examine the growth in population. Currently, there is increased demand for three-bedroom family homes. We should start to see growth in the construction industry. If we look slightly forward, we can see the start of growth in employment, which may lead to a drop of 20% in unemployment, and we will then see a subsequent drop in social welfare spending and health spending and a boost to tax receipts. Have the witnesses profiled the effect that would have on the Irish economy in the future?

Comments

No comments

Log in or join to post a public comment.