Oireachtas Joint and Select Committees

Thursday, 8 November 2018

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

European Monetary Policy: Exchange of Views with Mr. Mario Draghi

3:10 pm

Mr. Mario Draghi:

I thank the Deputy. In the spirit of the previous questions, the ECB should refrain from dealing with taxation issues, especially with composition of taxation. My remarks, naturally, will be fairly general. Clearly, when the tax revenue comes from a highly concentrated source, by its nature it is very vulnerable to changes in the economy and in the composition of the taxpayers. Initiatives that tend to increase the diversification of the tax revenues are only to be welcomed because they make tax revenues more stable. That is the general remark.

I should refrain from going into more detail, in the spirit of an ECB which does not want to deal with all the details of an economy as we might have done six, seven or nine years ago. Things change.

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