Mr. Seamus Coffey:

It is difficult to isolate. In 2015, the forecast for corporation tax was approximately €5 billion with the expectation that by last year or this we would be running close to a balanced budget. In 2018, corporation tax was €10 billion, which is €5 billion higher than in 2015, and we are running close to a balanced budget. The €5 billion excess has come in but it is not showing up on the bottom line. There must have been a change somewhere. That change has been additional spending. Much of the additional spending has been unplanned, with in-year spending across various Departments. Had the Government been in a position to stick to plans in respect of the €2.8 billion as set out by the Department of Finance, then, as frequently advised by the Irish Fiscal Advisory Councilincluding at similar meetings of this committee last year and in 2017we would be running larger surpluses and we would be in a position whereby more of those excess corporation tax receipts would be set aside. As matters stand, as quickly as moneys are coming in, they are going back out. The difficulty is that we cannot rely on them to continue to come in in a sustainable fashion.