Oireachtas Joint and Select Committees

Wednesday, 10 May 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Examination of EU Fiscal Rules (Resumed): Irish Fiscal Advisory Council

Mr. Sebastian Barnes:

I think the whole point is that we do not know. The uncertainty around this is massive. There are short-term uncertainties given that we are very reliant on a small number of companies. They may become more or less profitable or might restructure in some way; all sorts of things could happen. In the longer term, there is the question about their profitability and questions about the international tax regime. There have been big reforms already but we never know when this can come back on the table. It is impossible to know and that is why it is not even sensible to put a number on it in the sense that we should wait until we have it and then we will know. Until then, we do not know.

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