John Lahart (Dublin South West, Fianna Fail) | Oireachtas source

I thank Mr. Martínez Mongay and his team and, in particular, I thank him for speaking to us in his second language, which we appreciate. I have several questions. Does Mr. Martínez Mongay have a view in regard to future ECB interest rate rises, given we read something recently in regard to the susceptibility of mortgage holders here, particularly early mortgage holders who are on tracker rates, to increased ECB rates? Mr. Martínez Mongay might give us a view and a timeline for that.

A figure Mr. Martínez Mongay may not be able to give us now, but which is important, concerns reports the committee has received recently suggesting Ireland is going to rely more and more on an immigrant workforce, especially in the construction industry. A counter-balancing fact in that regard would help in terms of what number of the Irish labour force are working in the other 26 or 27 EU states. It would be politically useful to let people know it is not just a one-way flow but works two ways.

We have had the Irish Fiscal Advisory Council at the committee on a number of occasions. It tells us the implementation of the common consolidated corporate tax base, CCCTB, would have even more negative consequences for our economy than Brexit. Mr. Martínez Mongay might speak to that.

A repeated theme in presentations to this committee, which we take on board and listen to, concerns Ireland's perceived overdependence on and vulnerability to corporation tax receipts from a small number of multinational companies. Does Mr. Martínez Mongay think this issue could be adequately addressed by siphoning off more tax income into the rainy day fund that has been established?

To some degree, and I mean this very respectfully, it is interesting to hear the Commission's report because it chimes with a number of reports the committee receives and with a number of themes that arise in them, such as the over-reliance on corporation tax, overspending on health and, if that continues, future volatility in public spending. We know all that but what is the Commission's suggested solution? These reports are very interesting but what do we do? What advice does the Commission give the Government? On the over-reliance on corporation tax, for example, what does Mr. Martínez Mongay suggest we do? What policy changes does he suggest, apart from things like the rainy day fund?

Mr. Martínez Mongay highlights non-performing loans, which is fine from an accountant's point of view and very objective, and I agree we should be dealing with non-performing loans. However, many of these are mortgages of people who are in their homes. If they are put out of their homes, they have to rent homes at colossally high rents, particularly in Dublin, so they just go from the frying pan into the fire. There is a particular context to this and I am not sure if the Commission appreciates that enough. It is one thing talking clinically about non-performing loans but there are realities and people who live behind those loans. It has been the practice and objective of successive Irish Governments to keep people in their homes. Will Mr. Martínez Mongay speak to that?