Dáil debates

Wednesday, 12 June 2019

Ceisteanna (Atógáil) - Questions (Resumed)

Departmental Functions

2:30 pm

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael) | Oireachtas source

How is it done? According to the Irish Fiscal Advisory Council, the fiscal space this year is in the region of €3 billion. In future years it could be higher or lower depending on what happens with Brexit. A total of €500 million out of €3 billion fiscal space is approximately 20%. I was asked whether I would prioritise public services and infrastructure over tax reductions. Yes, I absolutely would. A tax package of approximately €500 million per year from a fiscal space of €3 billion represents a 4:1 split in favour of public services and infrastructure over tax reduction. In fact, it is a little to the left of what the Labour Party and Fine Gael Government did. We had greater tax packages in the last two budgets than we have had in the past or as I propose for the future.

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