Oireachtas Joint and Select Committees

Tuesday, 4 October 2016

Committee on Budgetary Oversight

Forecasts for Budget 2017: Department of Finance

11:00 am

Mr. John McCarthy:

The answer to the first part of the Deputy's question is "Yes". One can see the evolution of the profit share and the wage share over time from the national accounts. There is a rise in the profit share from the 1970s. One of the reasons for that is the multinational sector, which is profitable. However, the profits do not accrue to Irish residents.

They feed out from GDP and are subtracted to form gross national product, GNP. The figures must, therefore, be distorted or adjusted accordingly. A priori, however-----

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