Oireachtas Joint and Select Committees

Tuesday, 6 September 2016

Committee on Budgetary Oversight

Analysis of Economic Forecasts: Central Bank of Ireland

1:00 pm

Photo of Lisa ChambersLisa Chambers (Mayo, Fianna Fail) | Oireachtas source

When can we expect the new indicators that will be developed and when will the committee have access to that information?

What buffers are in place and what buffers do we need to put in place in respect of Brexit? Is a plan in place? What will happen in the short to medium term over the next couple of years? Dr. Fagan spoke about the uncertainty of Brexit and said it is essentially a waiting game. We are sitting back to see how the negotiations that have not yet commenced will pan out. In the context of budget 2017, what factors do we need to consider or can this budget assist in providing protections in the face of that uncertainty and the subsequent actions that flow from the negotiations, if and when they happen?

Does Dr. Fagan and his team have an opinion or view about whether the tax base is broad enough? Is it something we can address in budget 2017?

Some 40% of tax revenues come from income tax. What are the witnesses' views on that? Is it sustainable and broad enough? Are there changes we can make in budget 2017, which is our focus? Can the witnesses offer any opinion or recommendations to the committee on how we might gender-proof the budget, avoid the label of a regressive budget and address some of the negative impacts of recent years on young people, including the stresses they are experiencing in terms of accessing housing, education, finance and things that have been identified over the past year?

What short to medium-term factors should the committee be considering for budget 2017 to address our objective as a country to create a stable economy?

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