Oireachtas Joint and Select Committees
Thursday, 17 November 2022
Public Accounts Committee
2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund
9:30 am
Mr. John McCarthy:
There are marginal differences in what the NTMA calls debt and what the CSO calls debt. In 2021 it was €236 billion. That falls to €225 billion for this year and it falls very gradually then over the next two to three years, coming out at €224 billion at the end of 2025. I want to stress that is our baseline scenario. If things go wrong, for instance on the corporation tax front, then that will obviously be higher. We have published our debt interest costs. They are very similar to what the Secretary General said there. It is in and around €3.5 billion for the next couple of years. It does not to change that much.