Oireachtas Joint and Select Committees

Thursday, 17 June 2021

Committee on Budgetary Oversight

The Cost of Climate Action: Discussion

Photo of Seán CanneySeán Canney (Galway East, Independent) | Oireachtas source

It is very interesting. I concur with the sentiments Deputy Leddin expressed on cost-benefit analysis. We are talking about having to invest while money is cheap but where do the fiscal spending rules lie as a result? Can we ignore them in order to save our society for the future? If we are getting money at zero interest rate should we just go for it and ignore the fiscal rules that may apply in order to make sure we save our planet?

The other side of it all is that we are looking at ourselves as a small country, how the world will benefit from what we do and how we will benefit from what the rest of the world will do, especially China and the US, in trying to get us all to an equal state. To go back to farming, when you think about the methods we use compared to some of these other countries, it is very questionable as to whether the impact of our actions alone will stop flooding in Ireland. Maybe we have to show by example.

I thank the three participants again. This has been a great exercise. We could meet all day and still learn from them.

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