Oireachtas Joint and Select Committees

Thursday, 29 September 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Estimates for Public Services 2016: Department of Public Expenditure and Reform

9:00 am

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I understand that and great credit is due for reducing the debt to GDP ratio to a level nobody would have believed possible four or five years ago. At that time, Greek style figures of 125% and 130% were being bandied about. The debt to GDP ratio had declined to between 70% and 80% and continues to fall rapidly. Deputy Murphy wants pay restoration and does not want anyone on lower incomes to pay income tax, whereas the Fine Gael Party wants to remove the universal social charge. I do not know if we, the politicians, realise where we currently stand.

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