Oireachtas Joint and Select Committees

Thursday, 3 December 2015

Public Accounts Committee

2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014

10:00 am

Mr. John McCarthy:

I think the share may have risen but maybe not as much as the corporation tax, CT, figures might suggest. The reason I say that is that on a sectoral basis, a large part of the CT receipts are due to the IT and pharmaceutical sectors. The pharmaceutical sector is certainly not a labour intensive one, it is more capital intensive. I do not think we will see a massive increase in employment in that sector. We know the domestic sectors, consumption and so on, tend to be more labour intensive. I suspect the share may not have changed all that much over the last year. We will be able to evaluate it early in the new year.