Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the Minister to the committee. I want to pick up on the points he made in regard to next year's budget. In his opening statement, the Minister said that the expenditure ceiling would be fixed at €88.2 billion. This is consistent with what was spelled out in the summer economic statement such that regardless of how well the economy does, or tax fluctuation, the expenditure ceiling is confirmed and will not be changed. I want to tease that out with the Minister.

As we know, the budgetary package outlined in the economic statement allowed for €4.7 billion overall, €3.2 billion of which is already allocated or earmarked, with €1.5 billion being discretionary. Can the Minister confirm that that is the package regardless of what happens in terms of tax buoyancy in the next period unless it is funded by tax increases? Revenue is outperforming by about 5.4%. When you strip out corporation tax, it is still outperforming by 3.7%. Am I correct that the point the Minister is making is that regardless of that the expenditure limit is the expenditure limit, the package is the package and he will not be deviating from that? The recovery scenario outlined by the Irish Fiscal Advisory Council also suggested revenue for next year would be about €4.2 billion higher than was outlined in the summer economic statement. Is it the case that regardless of that materialising the plan is to stick with the figures outlined? I would appreciate it if the Minister could come back to me on that question.