Oireachtas Joint and Select Committees

Wednesday, 16 January 2019

Committee on Budgetary Oversight

Fiscal Assessment Report: Minister for Public Expenditure and Reform

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

What I am trying to be clear about is that if the economy takes a very big hit because of Brexit - I have outlined all of the difficulties in indicating what the hit would be - I will consider all of the options available to me to help the economy to respond. There are many options that will be open to me if we reach that point, but it is not my intention to do what the Deputy has indicated, nor do I anticipate any need to use the fund for bank recapitalisation. In fact, across 2018 we saw the position on non-performing loans in the banks improve significantly by comparison with where we were. The capital status of many of the banks improved significantly.