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Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: Yes.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: By the time we finish in public session, there may only be several people in the room, so not today.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: Was it because the Vote was changing from the HSE to-----

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: To the Department of Health.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: I thank Deputy Aylward. I call Deputy Farrell.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: The Deputy would like a session on the debt.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: The NTMA will be here before the summer to discuss its annual report.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: The NTMA manage it.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: We expect to have the NTMA before the committee as soon as it has its financial statement for last year cleared. That normally happens before the summer.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: The Deputy mentioned investment and he got an answer about the investment. He did not know that-----

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: We will start with ourselves.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: I am going to call Deputy Kate O'Connell for a few questions, because I have to go to the Chamber. I ask the witnesses to give me a quick response to this. The finance accounts clearly show the contributions to the EU as €2 billion to €3 billion per annum. That is fine. Why are the contributions to the Irish economy from the EU not reflected there? I know there is a...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: No, no.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: I ask the witnesses to give us a response to that. When representatives of the Department of Agriculture, Food and the Marine were here we asked this question. Where is all the money coming in? We could not see it in the Vote for that Department. The official responded that the Comptroller and Auditor General does not audit it, nor does the Accounting Officer. It is an EU account audited...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: This year?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: That applies to 2017 and 2018. Is the debt then as a result of capital expenditure?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: Are we in a surplus?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: What was the surplus for 2017? The witnesses might also give me the figure for 2018. I notice that one of the submissions predicts a return to deficit in a couple of years. It is on page 21 of the briefing note. The gross debt is shown in billions of euro in table 14 of the briefing note. A general Government deficit of - €0.3 billion is shown for 2020, and - $0.8 billion in 2021....

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: That is fine, but the Department predicts that a general Government deficit will re-emerge as years go by.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Seán Fleming: I am looking at general Government deficit, figure 1. What does that mean? I read the figure of - 0.3% in a couple of years. While the witnesses are preparing a response, there is one more point I want to ask about. When the witnesses were before the committee previously we were dealing with receipts, revenue and corporation tax. Can the witnesses give the committee a quick update on the...

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