Results 21,261-21,280 of 35,959 for speaker:Pearse Doherty

Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)

Pearse Doherty: May I ask a final question? Every month the Central Bank issues on its website the number of qualified investor alternative investment funds that have been registered with the Central Bank. Over the past few months we have been drilling down into the accounts of some of those funds. Dr. Fagan will be aware that if they are foreign-owned, they are completely tax-exempt in Ireland. However,...

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: Many of the issues have been covered. I welcome Dr. McDonnell to the committee and thank him for sharing his views and thoughts on these matters, and particularly for the excellent documents the Nevin Economic Research Institute has been producing, which are easy to comprehend and add to the understanding of complex matters by parliamentarians and the public. Dr. McDonnell made clear his...

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: In regard to the universal social charge, USC, those in political circles who advocate such a position reference the high marginal tax rate as a tax on employment that is off-putting to investment and employers who want to create jobs. The Economic and Social Research Institute, ESRI, which will appear before the committee in the future and which has provided us with its view on this matter,...

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: I wish to ask Dr. McDonnell a couple of other brief questions. I introduced the issue of child care which the ESRI had flagged up in that context. Some of the policy options that are floating about on child care include, for example, tax breaks for parents as a way of supporting child care, as opposed to direct intervention and support for operators. What is Dr. McDonnell's view on that? ...

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: Finally, I refer to the table provided on page 3 of the research in brief document by the Nevin Economic Research Institute, NERI, on the fiscal space. Has that table, with rows from A to N, been put together by NERI or has it been dragged from other sources? Is it the NERI's own-----

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: Yes, but the figures on the reference rate for potential growth are-----

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: They are official figures that draw upon the 3.5% average.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: When will that be locked in?

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: That will be calculated by the Department of Finance itself.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: I must say that Dr. McDonnell's table is the best I have seen in terms of the walk through. He makes the point that if the reference rate had increased by 0.5%, there would have been a reduction of €1.8 billion. The opposite would also be true.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: I am not sure if this was done before the CSO revision.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: Therefore, the CSO revision is likely to increase that figure because there will be a bigger output next year.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: It makes a nonsense of everything.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: It is unlikely that these measurements are going to last the test of time. Indeed, I imagine that the rules we are governed by now will not be in existence in five years' time. I ask Dr. McDonnell to share his own opinion on that, taking into account the documentation, the overheating of the economy and the calculation of the structural deficit.

Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)

Pearse Doherty: This is my final question. We have talked a lot about the expenditure benchmark but there is also another rule that governs us on the fiscal rules. That is the structural improvement rule that requires us to have a structural improvement rate of 0.6%. The latest projections by the Department that were published before the summer showed that we were not actually going to meet that target....

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Pearse Doherty: I move amendment No. 4:In page 4, line 13, to delete "Minister" and substitute "Oireachtas, or the Minister as per Article 28.11 2° of the Constitution".

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Pearse Doherty: As the Minister of State said, these amendments further strengthen the amendment I proposed to the Bill on Committee Stage.

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Pearse Doherty: There is nothing the Minister of State has said either here or on Committee Stage that convinces me otherwise. In a way, amendments Nos. 3 and 4 are similar but different at the same time. The Minister of State made a point and I imagine he will respond to Deputy Murphy on the question he posed in terms of the Dáil and Seanad being dissolved at the same time. The Minister of State has...

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Pearse Doherty: I move amendment No. 1:In page 4, line 11, to delete “behalf.” and substitute the following:“behalf, unless otherwise stated in this Act and in so far only as any of these powers do not extend to additions, changes or deletions to the Schedule without consent of the Oireachtas.”. As the Minister of State is aware, I tabled the only four amendments that were before...

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Pearse Doherty: Amendment No. 3 is similar to amendment No. 4, which I have tabled and which is a variation of the amendment I put forward on Committee Stage. Obviously, the change is in regard to the lengthy discussion in committee where the Minister of State raised the issue of a situation where there was an election and the House was not sitting. That is why the amendment now reflects that it should be...