Kieran O'Donnell (Limerick City, Fine Gael)
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I thank Mr. Barnes and his colleagues for their work over the period. The Irish Fiscal Advisory Council was before the committee on 7 September. At that meeting, I highlighted that the council basically stated that it looked like there would be additional revenues of €3.5 billion, particularly from corporation tax. The surplus proposed by the Government in the summer economic statement was €1.2 billion. That is now going to be €4.5 billion, leaving additional headroom of €3.3 billion. I proposed that this be deemed once-off spending in the budget. It is fair to describe the council's view of that as reticent. The Government has spent €3.9 billion on once-off measures in the budget. Before the budget, I felt we could still achieve a €1.2 billion surplus. Based on the table presented by the IFAC, the surplus in 2021 will be €1 billion rather than €1.2 billion. Has the IFAC revised its opinion on once-off payments being made from surplus corporation tax receipts? Its report is broadly supportive of Government measures. The IFAC was quite reluctant when I pushed it on whether it was a good idea to use those for once-off measures. I am putting Mr. Barnes on the spot but that is our job. Has the IFAC revised its view from 7 September? I presume Mr. Barnes remembers the exchange.