Oireachtas Joint and Select Committees

Wednesday, 14 June 2017

Committee on Budgetary Oversight

Corporation Tax Receipts: Department of Finance and Revenue Commissioners

3:00 pm

Photo of Joan BurtonJoan Burton (Dublin West, Labour) | Oireachtas source

I do not agree. It is a stream of income which is identified legally in a particular way. In that sense, it is a different type of stream of income, just as a farmer or a landlord has a stream of income. The principle underlying it in taxation terms is that it is a stream of income and, as such, it is possible to address potential changes. From the point of view of this committee, we are looking at the budget going forward. Mr. McCarthy made a trenchant statement about the debt ratios the Department prefers. Politically, I am extraordinarily conscious of the fact that this country does not have a proper public transport system. We have not finished the roads infrastructure. We need to invest in capital expenditure. I understand what Mr. Hession is saying about stability and avoiding the risk of another crash. However, this committee has to give information and opinion on the budgetary process and getting the information cuts to the heart of it so we can then make an observation on it.

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