Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

Mr. Coffey made the point that one cannot do all three at the same time, which I appreciate, in terms of eroding the tax base, increased spending and ramping up capital investment but there are also social needs when it comes to capital investment. Obviously capital investment must be at a level that is consistent with where we need to be in the future and we may be there or very close to it at this point in time. We lagged behind for most of the last decade but we have caught up. Is there now a need for a catch-up fund? We are probably closer to the downturn now than we are from the last downturn yet we have serious issues with housing construction and investment. We also have inadequate investment in third level education that builds up our skills competitiveness and a competitive economy. We have serious challenges in terms of the restructuring of the health service. Some of that, though not all of it, materialised as a result of the lost decade. Does the fiscal council believe we need a catch-up fund that is not permanent but compensates for the lost decade?