Oireachtas Joint and Select Committees

Wednesday, 19 October 2022

Committee on Budgetary Oversight

Post-budget 2023 Examination: Discussion

Dr. Karina Doorley:

I will make some brief remarks on that, as I am at the edge of my expertise here. The rise in interest rates makes the conversation about our national debt more important. We will be paying more on our national debt. It makes decisions on whether to borrow much more important because we have considerations about the amount of interest we will have to pay. The point on the amount we are spending returns to Professor Kinsella's point on the size of the State. It is growing and there is no escaping that. If we want to have the state we want to live in where there is a certain universality to healthcare, childcare and all those things we think are important, then we will have to embrace it and raise money from somewhere to be able to service all of that spending. I am sure Professor Kinsella will have more to say on that.

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