Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I will deal with the question on revenue-raising measures first. Every budget that we introduce brings in additional measures that raise revenue.

I would expect budget 2023 would be no different. There are always measures that allow the Government to raise additional revenue to fund changes in expenditure or taxation elsewhere.

We have to get the balance right. I have always recognised that the Deputy's figures have a coherence to them. He came out and said how much more he wants to spend and put in place measures that, in an abstract way, would allow him to fund that additional expenditure. Where he and I have differed for many years is that he sees the world as being static and assumes that if we increase taxes on workers and companies investing in our country that there will be no consequence. I strongly believe there will be a consequence. Putting in place measures that increase the level of taxation that large employers pay would, over time, lead to those large employers employing fewer people in Ireland.

I refer to windfall charges and taxes. We should bear in mind that some of the companies involved are owned by the State. Any change in how much money we want to recoup from those companies at a point in the future can be achieved by revision and dividend policy. I guarantee the Deputy that even if the State makes such a change, that will have an impact. It will, for example, impact on the investment plans that we need many semi-State companies to deliver in order for Ireland to have a higher share of energy through the renewable sources that we have the ability to generate in our jurisdiction.

We only have to consider the reaction in the UK to its proposal to bring forward a large windfall tax, even with investment reduction. Many larger companies are now saying that could affect their investment plans. We need to bear in mind that we have seven auctions for our offshore wind energy. Does the Deputy think those auctions will be unaffected if, while they are under way, we decided we would arbitrarily increase the taxes companies would pay for supplying our country with energy? That is the difference.

As always, we will consider other measures to determine whether they will raise revenue. While I will respect the budget secrecy process, and will not say anything today that would be inappropriate given that the budget is so far away, it is fair to say that many of the measures the Deputy wants me to introduce will not be announced on budget day.