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Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Pearse Doherty: But that is-----

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Pearse Doherty: So, it would be beyond the parameters. Okay. Hypothetically, if a credit was to be paid out in 2023, which the Government is talking about or is being floated, it would be outside the parameters of the summer economic statement because it would be deemed a once-off. That is my understanding of what the Minister is saying, which makes logical sense. Is my understanding of that correct?

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Pearse Doherty: Okay. On the windfall tax measures being discussed and to be agreed at European level after the budget, have calculations been done on the impact they would have, particularly the cap on non-gas production of energy which would take in wind farms and so on? Are we looking at millions or hundreds of millions euro? Has there been any discussion or any work in the Department? Maybe the chief...

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Pearse Doherty: The Minister's colleague, the Minister, Deputy Eamon Ryan-----

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Pearse Doherty: I did not ask for a forecast. I asked for a range.

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Pearse Doherty: The Minister, Deputy Ryan, said it would be in the range of billions. Is it in the range he indicated? I will make a final point to the Minister for Public Expenditure and Reform. It is important that he outline what his understanding is. Does he expect to be Minister for Finance before the end of the year? If so, is he looking to put his name forward for the Eurogroup chair as well?

Written Answers — Department of Finance: Real Estate Investment Trusts (14 Sep 2022)

Pearse Doherty: 159. To ask the Minister for Finance his analysis of the causes of the reduction in tax paid by Irish Real Estate Funds; and his views on whether amending the corporation tax applied to the profits made by IREFs could remedy these developments. [44358/22]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Thank you, a Chathaoirligh. I welcome our guests to the meeting. I will start with the decision to close key banking infrastructure, 70 branches across the State, that has thankfully been reversed. Can AIB inform the committee at what board meeting that decision was taken?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: However, a member of AIB's board was nominated by the Minister. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Were they present at the meeting?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Do the board packs still go to the Minister for Finance?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Did the board pack of the meeting in June, which decided to close down 70 branches across the State, contain a note that effect?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Removing cash. Closing them for cash purposes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Was that proposal in the pack that was sent to the Minister the week before the board meeting happened in June?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: In that board pack was there an agenda item with a note in it suggesting a proposal to withdraw cash facilities from 70 branches across the State?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: And that went to the Minister for Finance, the Department of Finance, a week before the board meeting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Did Dr. Hunt receive any communication at all before the board meeting or between the board meeting and when the announcement was made public, either from the Minister for Finance or any of his officials or representatives on that matter?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: None. Is Dr. Hunt aware whether the Minister for Finance or any of his officials read these board packs?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Let me put it this way; on any occasion when the board pack which goes from the bank before the board meeting takes place, has there ever been communication from the Department of Finance before the board meeting has happened in the past year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Pearse Doherty: Dr. Hunt cannot recall. Okay. Are the board packs addressed to a specific individual within the Department of Finance, or to the Minister?

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