Results 4,781-4,800 of 32,547 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I understand the Deputy's argument. I cannot give that commitment at the moment.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: A legal impediment?

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Yes, there is.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We were in the middle of a pandemic.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We had a pandemic still raging.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We did publish them across the period but when we published them, we said that their level of accuracy was significantly lower than we normally accept. When we published them and fulfilled our legal requirement - as opposed to legal impediment - we said that their level of accuracy was in some way short of what it normally would be. In fact, as part of the medium-term budgetary strategy,...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I believe the budgetary strategy that the Government has outlined is the appropriate strategy. Of course, I am absolutely aware of the costs and difficulties many people are facing throughout the summer period. However, the Deputy is aware of all the measures we brought in as the year has progressed and the additional measures brought in by the Ministers, Deputy Humphreys and Foley, to help...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: The Deputy rarely does that.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I will deal with the question on revenue-raising measures first. Every budget that we introduce brings in additional measures that raise revenue. I would expect budget 2023 would be no different. There are always measures that allow the Government to raise additional revenue to fund changes in expenditure or taxation elsewhere. We have to get the balance right. I have always recognised...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I want to add to what the Minister, Deputy McGrath said regarding the recognition of those who do not qualify for social welfare payments, but are in work and clearly face new difficulties because of the higher price of energy and food. That is why there is complete agreement in government regarding the role of indexation in our personal code. The Minister, Deputy McGrath, and I recognise...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I acknowledge the huge work the Minister for Public Expenditure and Reform and his Department have done on this. He will elaborate on the framework in a moment. I welcome the Deputy's recognition in this regard. It also formed part of the national economic dialogue, where we tried to broaden the evaluation of how we are doing beyond the very traditional economic measures of GDP and...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I will kick off because the Deputy opened with questions that are relevant to me. I do not foresee any changes in our budget day parameters between now and budget 2023 being announced. At €6.7 billion, it will be the largest budget in core spending that any Government has introduced in Ireland for quite some time. However, as the Minister, Deputy Michael McGrath, has said on a...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: The percentage reduction is faster. All other things being equal, on our current forecasts we are still expecting our national income to grow. That is particularly important. At the start of the year the interest we were paying on our national debt for new borrowing was approximately zero and today it is 1.7%. I will note, before others make the point to me, that the 1.7% is a reduction...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Croí Cónaithe.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We will give the points raised by the Deputy about the operation of the Living City initiative very serious consideration. A proper review of the scheme has been done and I will be getting a copy of the report very shortly. The Deputy raised some very reasonable points regarding how what is a very targeted scheme could work better and they will be given proper consideration in the time...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Yes. I echo what the Deputy said. Phenomenal work is under way there. Limerick 2040 is one of the key bodies-----

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: 2030.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Indeed. In conjunction with the council, Limerick 2030 has done brilliant work moving lots of large initiatives forward. I am really looking forward to going back soon with the Deputy and seeing all the progress that has been made. I know well the parts of the city referred to by the Deputy and the work that could really complement the broader regeneration that is under way. It will be...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We had assumed a base case scenario of inflation within our economic forecast of approximately 6% on average for the year. When the Minister for Public Expenditure and Reform and I published the stability programme update in April and the summer economic statement a couple of weeks ago, we acknowledged there was a risk to that 6% and said there could be changes that would move it to between...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We will be implementing lots of initiatives between now and budget day, for example, the measures announced by the Ministers for Education and Social Protection on back to school and the changes to the SUSI grant across the summer. All of the measures the Government has announced during the year will be implemented across the summer. The Government has not made any decision yet about what...