Oireachtas Joint and Select Committees

Wednesday, 30 November 2022

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael)
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Will Mr. Barnes explain that? The summer economic statement referred to a surplus of €1.2 billion, whereas the outturn shows a surplus of €1 billion. There is a difference of €200 million. I think €2.5 billion was the figure that was being mentioned in once-off measures and it ended up being €3.9 billion. The point I am making is that if we take the differential, there was €3.3 billion of headroom. In fact, it ended up being €3.5 billion because the measures cost an additional €200 million. If the corporation tax receipts had not been available, where would the money for these once-off measures have been found without it affecting the balance? Would we have then ended up going into deficit?