Oireachtas Joint and Select Committees

Wednesday, 3 July 2019

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance

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

Before I ask my final question, I should point out that the €14 billion figure I mentioned, which has been provided by IFAC, does not relate to a single year's corporation tax receipts, but instead covers the entire period over which the unexpected windfall arrived. IFAC has indicated that almost €14 billion, out of a total of €15.5 billion, has been spent on current expenditure. Perhaps my final question does not arise in the context of the summer economic statement. The committee will be looking at the idea of fiscal stress tests, which has been proposed by Professor Stephen Kinsella. The Minister has said that the most expensive part of the national broadband plan will be funded at a time when the surplus is greatest. I am phrasing that in my language. It is possible that in the event of a disorderly Brexit, there will be no surplus. How does the Minister intend to fund major projects like the national broadband plan in such circumstances?

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