Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

First, I disagree with the Deputy's assertion that Ireland's economic model, or projection of economic growth, is based on low corporate taxes. We are forecasting, in the stability programme update, a strong rebound in the domestic economy, with domestic demand starting to recover in the second half of this year, and strong underlying growth over the course of next year. That will be driven by consumer confidence, which will be rebuilt. It will also be based on the pent-up demand that currently exists because of the impact of Covid-19.

One of the core priorities we will have in bringing about economic recovery is helping people to get back to work. Helping the more than 400,000 people still on the pandemic unemployment payment, who have lost their jobs because of the pandemic, to return to employment will be a top Government priority over the period ahead. If we can make sensible decisions regarding the management of the public finances, the SPU demonstrates that there is a pathway back to sustainable public finances and a broadly balanced budget within a short number of years, avoiding the type of austerity our country has experienced in the past.

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