James Lawless (Kildare North, Fianna Fail) | Oireachtas source

I agree with almost everything the Minister has stated. President von der Leyen, to whom the Minister alluded, indicated in the context of the EU Covid budget and recovery package that member states, whether the so-called "frugal four" or otherwise, must repay by 2058 any borrowing they receive under the €750 billion once-off recovery fund which is to be borrowed on the markets by the Commission and then distributed to member states in grants and loans. My understanding is that the Commission has asked member states to put proposals in place in that regard. As the Minister is aware, the EU has the power to impose pan-EU levies that would be used for repayments. In other words, the €750 billion rescue package would be underpinned by pan-EU fundraising or revenue-raising initiatives which would include a digital tax and a carbon levy with a view to introduction by 1 January 2023, which is not very far away. Ireland would have to sign up to that. I understand it would be possible to use a veto as unanimous agreement by member states would be required. How stands Ireland on that matter? I realise it is challenging issue, but it is an important one.

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