Oireachtas Joint and Select Committees

Wednesday, 3 July 2019

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance

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

The Deputy referred to himself as a political observer but he is anything but that. He is a Deputy and a participant in our political process, as I am, and the difference he and I have versus the gentlemen he referred to a moment ago is that they are commenting on and analysing what is happening, which has a certain level of consequence. I have to make decisions, as does the Deputy, which has a far higher level of consequence within our economy and for those who work in it. The difference between an economist, no matter how much I respect that economist, saying that a disorderly Brexit is likely and the Irish Government saying one will happen are two very different things. That is why at this point in time, with all that is going on, it is fair and responsible for us to say that a number of different scenarios could happen and that we will form a view in September regarding what is the more likely one. That will have an impact on decisions that we then take in the budget. The impact, in turn, will be significant on our national finance indicators. I will substantiate that on the basis of engagement we will have within the European Union and with the new British Government.

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