Oireachtas Joint and Select Committees
Wednesday, 7 November 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Statement of Strategy 2011-2014: Discussion with Department of Finance
3:35 pm
Peter Mathews (Dublin South, Fine Gael)
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We want well informed advice, independent of the Government. The Department can harness people to do this. I am asking Mr. Moran to give us the head counts, the qualifications and the number in each Department carrying out different tasks. I ask him to explain two points about budget preparations to address the deficit. I have tabled parliamentary questions on these points. One refers to a levy on high incomes, over €120,000, which would produce €520 million. An increase in the headline rate of corporation tax from 12.5% to 15% would produce, on the basis of the last template of corporation profits, €670 million. I ask Mr. Moran to show how these proposals and amounts cannot be achieved. They are two major reinforced steel joists for the economy to correct the deficit.
With regard to banking and the promissory notes-----