Oireachtas Joint and Select Committees

Wednesday, 30 November 2016

Committee on Budgetary Oversight

Post-Budget Analysis: National Women's Council and Social Justice Ireland

1:30 pm

Dr. Seán Healy:

Invest in rural broadband and social housing, increase social welfare payments and introduce refundable tax credits. That last addresses the working poor issue. A minimum effective corporate tax rate should be introduced and there should be good governance. For example, resource the independent budget office properly and expand the ongoing social and economic dialogue to include all sectors and cover all issues, not just pay.

I will provide a practical suggestion on sustainability. Promote the idea, and publish shadow national accounts. This does not mean that the national accounts be dropped. Rather, a new set should be developed alongside them. Several other countries have done this. These accounts include the cost of, for example, environmental damage and the value of unpaid work. This provides a different picture of the economy and society and leaves one in a much better space when trouble hits and a decision needs to be made. Shadow national accounts may show the impact that one would not see from just examining the standard national accounts, GNP, GDP and so on.