Oireachtas Joint and Select Committees
Tuesday, 4 October 2016
Committee on Budgetary Oversight
Forecasts for Budget 2017: Department of Finance
11:00 am
Mr. John McCarthy:
The horizon for other household income in 2016 is fairly small.
Net cash transfers refer to the interaction between the household and the general Government sector. So I make transfers to the general Government sector by paying taxes on income and wealth - in my case just income; I do not have any wealth. In addition the Government makes transfers to me via child benefit and to the unemployed via social welfare and so forth. Therefore, it is a net position. That would be the dark green bar. PCD, which is the light green bar, takes into account the inflation rate because we are trying to look at this in real terms.