Oireachtas Joint and Select Committees

Thursday, 3 December 2015

Public Accounts Committee

2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014

10:00 am

Photo of Shane RossShane Ross (Dublin South, Independent) | Oireachtas source

I am quite concerned about this because it is quite important. The Department of Finance is in the dark about an incredibly significant figure and an extraordinary thing that is happening in the economy. It does not know why it happened and it has a lot of work to do, which is very worrying. This means one cannot for a moment believe any assessment as to whether this is or is not permanent income because the Department itself does not know where it is coming from or why it is coming. If one compares this with the construction industry boom in 2007, for example, which ended there, what percentage of the taxes at that time came from the construction industry and which have now collapsed and gone away?

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