Oireachtas Joint and Select Committees
Tuesday, 17 September 2019
Committee on Budgetary Oversight
Pre-Budget Scrutiny: Minister for Finance
Pearse Doherty (Donegal, Sinn Fein)
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In the context of a no-deal scenario, we would be in deficit; therefore, the resources to which the Minister refer to would have to come from additional borrowings. None of us knows what the real impact of Brexit will be and I am not asking the Minister to predict what it will be, but we have indicative figures that suggest there could be a deficit of €5 billion. That is the base line that was set out in the summer economic statement. Can the Minister give a sense of the size and scale of additional, temporary measures envisaged? Are we talking about a figure of €1 billion, €2 billion, or much less? That will obviously have an affect on the overall deficit figure, possibly moving it from €5 billion to €6 billion or €7 billion, depending on the scale of the measures the Minister has in mind.