Oireachtas Joint and Select Committees

Thursday, 15 July 2021

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform

Photo of Aindrias MoynihanAindrias Moynihan (Cork North West, Fianna Fail) | Oireachtas source

I thank both Ministers for their contributions and for the questions and answers. I had the opportunity to quickly read part of the documentation. It is looking like a positive backdrop with strong growth figures expected.

There has been substantial spending on Covid-19 supports. I acknowledge that is for both individuals and businesses. The Minister is looking at tapering that and expecting growth afterwards. I imagine the Minister is basing this on there being no further waves or any need to continue with that. Is there a contingency or plan in that regard? I am being optimistic that vaccines will see us out of the pandemic, but is there a plan to address any further threat from the pandemic?

Beyond that, there are significant challenges in housing and health. It is important that it is not all happening in the east and in the cities and that there are opportunities in the regions, including key transport areas, whether Cork, Limerick or elsewhere, such as the capital plan taking in the N22 and so on. It is important that there is regional balance. It is intended that the capital spending can be front-loaded for housing and transport over the next couple of years, especially if we are to catch up from where we are?

The Minister clarified the fiscal rules for Deputy Nash. I understand that they are suspended until 2023. The Minister outlined the broad shape of things ahead. Is there flexibility for the timing of those or will it definitely be 2023? If there was more flexibility, it might influence the plans.

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