Results 14,361-14,380 of 32,961 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: In terms of the level of reduction of our-----

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: It can certainly be achieved if we run surpluses, which can have a very big effect on the level of debt in our economy as a percentage of national income. The key thing is to sustain that degree of surplus over time.

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: If Brexit does not happen, if there is an orderly Brexit or if it happens at a later point in time, we would need to look at two things. The first would be how to improve the capacity of the people, capital and land present in our country. It would not be all about how to restrain growth. It would also be about how to make better use of the resources available to us. In particular, the...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: It is crucial. Public sector pay is the single largest component of total current expenditure. Any change in our public sector wage bill that affects everybody else in our public service has a really big effect on the total level of current expenditure within our economy. One of these issues is currently before the Labour Court. I acknowledge that. Work is under way concerning healthcare...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: Yes, they are deliverable. We will ensure that we can put the strongest possible support in place for sectors that would be affected by a disorderly Brexit. However, this support would need to be capable of being phased out over time because we would have to ensure the parts of our economy we support turn to other sectors or other countries, or that those companies or sectors make changes...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I can assure the Deputy that supports will be in place if they are needed. From my engagement with the European Union I am confident that it will provide the policy guidance or recognition needed to do that. Of course, we will be expected, and we will be able, to provide the resources to respond to this challenge ourselves.

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: It would be a matter of very great concern to me if there were to be an overrun in health of the magnitude of what we saw last year. As the figures indicate, we are currently in a better place than we were a year ago with regard to expenditure management. There is still a risk, however, and that will require ongoing focus for the rest of the year.

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: Is the Deputy referring to the profiling of the overspend with regard to what will happen towards the end of the year?

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: There are two reasons. The first is the magnitude of additional funding that was provided to the health services last year. The Supplementary Estimate last year, in addition to the extra funding provided in budget 2019, amounted to just over €1 billion. This is the largest increase in funding to the health services in a single year in any of the budgets in which I have been...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I am not suggesting that at the moment. I am saying that we need to avoid that, which is the reason I am being very careful in my analysis of where we are at the moment. The change in June stands in marked contrast to our position in May and earlier parts of the year. The growth in expenditure this year versus the previous year was within what we had budgeted for. It is obvious-----

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: The month-on-month expenditure earlier in the year was in line with what we had budgeted for. That changed in May and then changed downwards in June. While the June figures for current expenditure growth versus what was budgeted for show progress in managing the risk, I must be clear that the Minister for Health, Deputy Harris, and I will need to work together in the second half of the year...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: There is an increase, yes. At this point in the year, the figure is higher but two things must be weighed against that. First, the growth in expenditure for June is lower than it was in May.

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I accept that but the magnitude by which it is over budget is far smaller than it was in other years.

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I aim to get spending for these months within budget and will work to do so. What is different from the situation in other years is the magnitude of additional funding last year, which was just over €1 billion.

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I am well aware of the people behind this, namely, the patients and citizens who are impacted by the decisions made. I deal with them in my constituency, as does Deputy Doherty in his. The Deputy pointed to what is happening in Donegal and to a constituent he has met. I would point out that this year 53,000 of our citizens will benefit from home support services and a further 235 people...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I am in the same world as the Deputy, representing similar constituents with similar needs. I am as aware as he is of the levels of need of patients in our hospitals or of those who want to go into our hospitals or primary care centres. I understand the reality to which the Deputy is referring because I represent and deal with the same issues myself. Additional funding for home support...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I am aware of the level of unmet need, which is why the HSE and the Department of Health are looking to make use of the resources they have available to them and find out if they can be used in different ways to resolve these issues. We are debating needs that are unmet or need to be met. I am aware of waiting lists and of families and citizens awaiting services after assessment. We are...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: The key difference between the Deputy and me is that he is only looking at the €700 million that is unallocated. However, our planned budget expenditure for next year is €68.8 billion. We are debating the unallocated funds, whereas I am focused on the totality of what we will spend next year. That substantial figure will allow us to make progress on many of the needs we are...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: I believe changes in areas like the research and development tax credit and our corporate tax policy, if we were to go down the path suggested by the Deputy, would have a very negative effect on the level of employment and investment in our economy. I say that as somebody who is at the forefront of representing Ireland's competitive offering to companies which create employment in Ireland....

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: My view on that is formed by the phasing in respect of what will happen in the OECD. The work plan in respect of the debate on global corporate taxation is not due to be concluded until the end of this year and decisions relating to that are not due to be completed until the end of next year. For those reasons, I see Brexit as being a more imminent risk. In terms of the effect it will...