Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I will split my questioning into two areas: the upcoming budget and energy costs. The witnesses might answer the first question within the timeframe I have.

First, I wish to draw attention to the IFAC pre-budget statement. On page 5 the council effectively states that government receipts will be €3.5 billion higher than forecast and that this will lead to a surplus of €4.5 billion, whereas the surplus projected under the summer economic statement was €1.2 billion. That is a differential of €3.3 billion. If €500,000 of that is put into a rainy-day fund, and we will deem the extra €3.5 billion to be the non-recurring element of corporation tax, what scope does that provide to the Government in the form of once-off payments to hard-pressed households and businesses in 2022? I ask the question on the basis that the sum is paid out as once-off payments and, therefore, does not feed into core spending. That means that the Government will still be able to meet its metrics under the summer economic statement, namely a surplus of €1.2 billion and a 0.5% general government balance. It is a very specific question. What scope do the witnesses believe that provides to the Government, and would they support that €3.3 billion, which would allow the Government still to meet its target under the summer economic statement, being spent on once-off measures in 2022? In addition, what should those measures be? I will start with Mr. Barnes and then go to Dr. Doorley and Dr. McQuinn of the ESRI.