Oireachtas Joint and Select Committees

Wednesday, 27 September 2023

Committee on Budgetary Oversight

Pre-Budget Engagement (Resumed): Ministers for Finance and Public Expenditure, NDP Delivery and Reform

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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I will deal with the point on what is or is not unacceptable with regard to me answering a question from the Deputy. My preference and duty is to give the Deputy an exact figure, rather than a range. I stand by what I said earlier and reiterate that point. When that work is complete, I will be back in the Oireachtas and will give the Deputy a figure and explain it.

On the Deputy’s point regarding capital spending, I am aware of the critique from the Central Bank but it is also the reason we have increased capital expenditure in the coming years by €2.25 billion. The Central Bank is also warning the Government, correctly, of the consequences of significantly increasing capital expenditure in an environment of full employment with high inflation. The Central Bank is entitled to point to the risks that are there. On one hand, it is noting real output is declining while, on the other, it is warning the Government not to add to inflationary fuel. We are trying to get that balance right.