Oireachtas Joint and Select Committees

Tuesday, 24 June 2025

Committee on Budgetary Oversight

Annual Progress Report 2025: Discussion

2:00 am

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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In the previous Dáil, much of the Opposition voted against the so-called rainy day fund and setting up the two funds we now have in place. We can see their value now.

How we avoid depending on one-off receipts to fund current spending is by running budget surpluses. For the past two years, the Minister, Deputy Chambers, and I have overseen a number of budgets with a surplus of more than €8.5 billion. I am pleased to hear colleagues asking questions about windfall receipts and the risks they pose, but on the other hand, when we bring in measures to try to expand the tax base, people vote against them. Any time the Minister, Deputy Chambers, or I bring in a spending proposal, we are told it is not enough and we should spend more. How to get that balance right is the challenge this Dáil will face.