Oireachtas Joint and Select Committees

Wednesday, 11 July 2018

Committee on Budgetary Oversight

Summer Economic Statement: Discussion

3:30 pm

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

They are certainly three external significant risks we face. There are additional things internally that are of concern to me such as ensuring I do all I can to make sure prices and wages continue to grow at a moderate level and try to make progress on the issue of how we can deliver more homes and better schools without it generating inflationary pressures within the economy. More generally, even though the economy is growing quickly and was growing particularly quickly in the first half of this year, the rate of expectation of what I might be able to do next year is always growing at a quicker pace. When I finish the summer, there will be an array of demands on the Exchequer and how we manage them, while trying to maintain the budgetary outlook about which I have talked, is always a risk.

I will address one question I could not answer when it was asked about the Department of Housing, Planning and Local Government.

The total allocation for 2018 is €1.6 billion moving to €2.03 billion in 2019. Specific funding within this allocation is set aside for the Action Plan for Housing and Homelessness in the amount of €325 million this year, rising to €400 million in 2019.

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