Oireachtas Joint and Select Committees

Wednesday, 30 May 2018

Committee on Budgetary Oversight

Ireland Country Report and Country-Specific Recommendations: European Commission

2:00 pm

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

I thank Mr. Martínez Mongay for attending. I am conscious that I do not have much time but I have two questions. I note that Brexit has been mentioned in the country-specific recommendations as a risk to our economy. That it is probably the greatest short-term risk is obvious. In that regard, has Mr. Martínez Mongay recommendations on our budgetary process? What provision should we make for it? Is he satisfied that the rainy day fund is sufficient or should we be doing something in addition to buffer our economy against the threat of Brexit?

My next question is on childcare and labour activation rates. This issue impacts on women more. How do we compare with our EU counterparts? Is it a major concern for the Commission?

In line with the country-specific recommendations, Mr. Martínez Mongay has stated that we need to reduce our reliance on countercyclical taxes, corporate tax receipts and windfall tax revenues to fund services. Would he consider an increase in corporation tax receipts a windfall? If so, how should we proceed if we see a substantial increase?

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