Oireachtas Joint and Select Committees
Wednesday, 22 November 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2023: Discussion
Mr. Oliver Gilvarry:
If we use GDP, we are capturing that. The fact is that if the corporation tax take falls, the GDP numbers should fall as well so then the number declines with it. It gives us the flexibility there. The reason we landed on 0.8%, if we look at the forecast on the budget documentation out to 2026, is again the volatility we have seen in corporation tax. It is to give us the space there, hence we have the ability in the heads, which I have in front of me, whereby the Government can basically fly a motion before the House to put additional money in if it so wishes.