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

5:05 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I would like to elaborate on this question a little. Maybe others would like to comment. I take Dr. Donovan's point. The lines begin to get very blurry when one examines the matter a little. It seems to me that the council believes it has a role in examining what might happen if we do not make the adjustment. It considers whether we might meet certain targets. The issue of unemployment is considered when it is making its projections. It looks at what certain decisions might do to the rate of unemployment. That is where it begins to get tricky. I would argue - it is just my view - that if we took an additional €4 billion in tax from the corporate sector instead of taking it from low and middle income workers, and if we invested €4 billion in public works programmes to develop renewable energy, forestry or generic medicines, to give three examples, this would be a far more efficient form of expenditure and would have a positive impact on our deficit, unemployment, etc. Why would the council not look at that, given that it looks at why we must make cuts in public expenditure?

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