Oireachtas Joint and Select Committees

Tuesday, 11 June 2019

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I am running out of time and I want to make another point. However, I shall clarify what I mean by a catch-up fund, particularly in terms of the fiscal council's view of the mid-term or long-term sustainability of corporation tax receipts and us trying to move away from having between €3 billion and €6 billion. Would it not be appropriate for us to now consider actually investing in projects that are deemed to be stand-alone and one-off catch-ups as opposed to current investment in housing?

On the issue of corporation tax, the delegation has clearly highlighted the risk but the concentration has increased. Ten groups now make up 48% of all corporation tax receipts and 73% is made up of the top 100 companies so there is a serious risk. The Department and the Government still believe that the impact is not high. What measures do we need to take in budget 2020 to begin to separate from that concentration and reliance on corporation tax receipts?

Is it a case that the international changes being talked about by the G20 and others is a case of not if but when changes will take place that will negatively affect our corporation tax receipts in this State?

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