Oireachtas Joint and Select Committees

Wednesday, 6 July 2022

Committee on Budgetary Oversight

Economic Quarterly Report - Summer 2020: Economic and Social Research Institute

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein)
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That is very interesting. The reality is we are so behind in this State - our infrastructural deficit and all the different things. I am from Galway city but if you look at Connemara, the infrastructure out there is really behind. In general I think that would be an interesting paper and I am looking forward to reading it. We are very behind and even already we are hearing about inflation and the impact that could have on other projects. We have seen what has happened in the NDP and the State aiming to cover 70% of construction inflation and all that. I was listening to my colleague, an Teachta Ryan, asking about corporation tax receipts. Dr. McQuinn mentioned capital investment in that. We have been talking so long about the fact that the corporation tax receipts revenue is so distorting of the reality. If we are going to use that money to invest in something, it should be in an alternative industrial strategy that creates jobs and is good for people locally. Does Dr. McQuinn have a view on that? We cannot rely on this. It is a kind of bubble that at some point will be gone and we will lament that fact then - or some people will.