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

I believe changes in areas like the research and development tax credit and our corporate tax policy, if we were to go down the path suggested by the Deputy, would have a very negative effect on the level of employment and investment in our economy. I say that as somebody who is at the forefront of representing Ireland's competitive offering to companies which create employment in Ireland. That is the area of difference between the two of us. If the Deputy is ever Minister for Finance or Minister for Business, Enterprise and Innovation and he is responsible for retaining jobs or trying to create more, and competing with many of the countries trying to do that, he may well experience the reality I see every day. I differ from the Deputy on that.

The Deputy touched on the issue of employers' PRSI. It is worthwhile acknowledging that later in the year there will be a consultation paper on the level of employers' PRSI in our economy which will examine options for the way the Social Insurance Fund can meet our future commitments. Where the Deputy and I are in a very different place is that I believe much of what he is advocating would have a very damaging effect on our ability to retain jobs and investment in Ireland.

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