Oireachtas Joint and Select Committees
Wednesday, 18 September 2024
Committee on Budgetary Oversight
Pre-Budget Engagement
3:30 pm
Aindrias Moynihan (Cork North West, Fianna Fail)
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I thank the Ministers for the presentations. So many of the economic indicators are very strong, with full employment, interest rates facing south and strong tax returns. Many of the various bodies such as IFAC, the ESRI and others are pointing towards an attitude of "steady now" and putting aside funds towards a day when the figures are not as strong as they are today. The last budget saw the establishment of two significant funds, the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. I would like to get a handle on the rate of putting funds into those at this stage. Are there any plans to change the rate or increase those funds, having them in a position for the day when things are not as strong as the economic indicators suggest they are today?
On the Apple money, I am conscious it is not part of the budget but many people are very conscious of it and of setting out different plans. It is probably spent a hundred times over at this stage with the various plans. I very much feel that we should be looking towards key infrastructure such as in housing, roads and water schemes. I am conscious that it is not in the current budget, but would like to get a handle on the timeframe for when that funding will become available to the Government.
While we can see that the economic indicators are all very strong, we live in a society and not in an economy. There are so many other indicators that should be influencing the budget. The well-being framework sets out quality of housing, biodiversity, access to education and many other key indicators that are important to society. Is there any way of saying how that well-being framework will influence the forthcoming budget?