Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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I thank the members of the Irish Fiscal Advisory Council for their attendance. I always enjoy their contributions and reports. I do not always agree with them, but they are always informative. I think I understand their critique which, in layman's terms, is that given the uncertainties in the economy and outside it, including Brexit, a possible downturn, the onset of protectionism and an over-dependence on corporation tax receipts, we could be in a very vulnerable position. In that context, having spending Estimates which may be less than realistic, given the commitments the Government has made, could cause big problems if any of these chickens comes home to roost. That is, more or less, the critique of the council. Of course, that still leaves all of us the political conundrum of what to do with it. It seems that, in broad terms, we have three choices. We can spend less, raise more revenue or manage projects better. The answer would probably include all three, but a trickier question is trying to figure out the key ways to deal with the problem.

I put it to the delegates that, given the size and openness of the economy and its vulnerability to all of the things to which they referred, there is almost nothing we can do vis-à-visthe unpredictables. I make that general point, although I am not saying we should not do anything. What I am saying is that if any of those chickens comes home to roost, we are not really going to be in control of the situation. I am interested in hearing the response of the delegates.