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 Edward TimminsEdward Timmins (Wicklow, Fine Gael)

It is something we should be all over. I do not think we can ever take it for granted. We have much more work to do.

I want to go back to the tariffs. We all know how dependent we are on US corporations for our corporation tax. This has been a good thing. I would not regret for one second the magnificent boon it has given to the country and the great things it has done in terms of income for the country. It has allowed this country to develop so much. There is a small issue. The Irish Stock Exchange is making a submission on the budget because it is looking to expand. As the Minister knows, many big companies have left the Irish Stock Exchange. It is very important that we support the Irish Stock Exchange. It has a good relationship with Enterprise Ireland. We should look to foster Irish companies to go on the main Stock Exchange or even the lower level stock exchange which has fewer costs and reporting requirements. I urge the Minister to do everything he can to support the Irish Stock Exchange. It has ideas about getting people to invest in products. Because of being burned 15 years ago, we are very reluctant to do anything with our cash apart from sticking it on deposit in the bank. Most people do not realise that inflation eats away at that every year. The Irish Stock Exchange has ideas about some of how some of that money could be released productively and safely into the economy. I hope the Minister will support this.

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