Oireachtas Joint and Select Committees

Tuesday, 17 September 2019

Committee on Budgetary Oversight

Pre-Budget Scrutiny: Minister for Finance

Photo of Eamon RyanEamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

As I said, I need to check the record, but my understanding is that the Irish Fiscal Advisory Council is advising that, even assuming a no-deal Brexit, the Government should live within the €2.8 billion. The council always says that additional tax measures could be raised which might have some dampening effects. Let us take the example of a tax on financial transactions. That would probably not affect the agricultural and rural sectors that might be affected by Brexit, so it could be transferred in that manner. There are ways to address the sectoral issues that would arise in a no-deal Brexit without necessarily resorting to borrowing. If we do enter a recession, we should be doing a green, new deal stimulus borrowing package, but I am loath to ignore the advice of the Irish Fiscal Advisory Council. The Minister seems to be doing so.

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