Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Yesterday, my Department was clear and careful not to use the proceeds of the sale in the AIB share to influence the half-year figures for income and expenditure. The changes in our position overall were mostly driven by the improvement in tax collection, especially throughout June. We did not use the sale of the AIB share to influence the presentation of those figures, but of course it did have a big effect on the surplus that we delivered at this point in the year versus the deficit of last year.

I have not said, nor do I believe my predecessor said, that the release of extra capital in any circumstances would overheat the economy. I recall in the debate in the House some weeks ago when, as Minister for Public Expenditure and Reform, I said that additional capital investment was needed. I hope to make progress on that but we need to be careful that we do not release such quantities of money that we find ourselves in a position where we are back to where we were some years ago with construction and the pricing of property going up and up. The only people who suffer from that in the end are citizens and taxpayers.

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