Oireachtas Joint and Select Committees

Wednesday, 28 May 2025

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

Developments in the Economy in the Year to Date: Minister for Finance

2:00 am

Photo of Shay BrennanShay Brennan (Dublin Rathdown, Fianna Fail)

I appreciate that answer. The second question is about the climate targets. What is the confidence level in the Department of Finance about meeting those targets? It is a financial risk and we are likely to be on the hook for between €8 billion and €26 billion, potentially. Given that there is an estimate of how likely we are to incur that cost, is the money being ring-fenced for if and when it is needed? Are we just proceeding to see if we do not get fined and, if we do, will we have to take it out of that year's budget?

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