Results 2,181-2,189 of 2,189 for speaker:Richard O'Donoghue

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: I understand what Dr. O'Toole is saying but it is not happening. Wages are rising with inflation, but it is coming back full circle. If you are an employer, and the price of something has gone up, you still have a basic 6% margin on your business, regardless. When inflation goes up, you still have the 6% margin and you have to make sure your business can run. To break that cycle,...

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: We have time and I have guests in as well so what I am going to do, and I am going to stick to it this time, is allow four minutes for questions and answers. I am going to pull members at four minutes to allow other people to get in. Deputy Timmins has four minutes.

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: If the Deputy takes less time, that is fine.

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: We can allow another question in a minute. I have another question. I want quick answers, if possible. On wind turbines, there are so many legal challenges against wind turbines at the moment because of the knock-on effect of guidelines. Wind turbines that were put up 15 years ago were only 80 m or 100 m high. They are coming to the end of their shelf life now. A new wind turbine cannot...

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: These energy companies have received funding from Government. There was €280 million given in subsidies for 28 wind turbines. When they did a business case to build those wind turbines, it did not make economic sense for them to be built unless they were given funding of €280 million to do that. Tomorrow morning, these companies could walk away after getting all these...

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: Exactly. The turnover for businesses is up at the moment but when it comes to their profits that are being taxed, their profits are down. I refer to the trajectory of those taxes at the moment. I am in business and have seen the projections in recent years. My turnover is up but my profits are down because of different changes, year on year. You could be in a fixed price contract and...

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: I have a final question that might be for Dr. Keane. She spoke about lower income families. I am talking about the middle income families where both people in the household are working and in good jobs. They say to me that they are both working and paying their way. They have children to go to college. Their costs are going up and they now see people who are not as well off as they are...

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: I have one last question related to rising inflation. The proposed 9% VAT rate that I hope will come in would allow businesses to not increase their costs, ensuring that a family break, for example, does not cost more for the consumer. It has been shown that holidays are at the back of the list. People are seeing they cannot afford to go on holidays or breaks or to dinner. Based on a...

Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)

Richard O'Donoghue: As there are no other questions, that concludes this session. I thank our witnesses, Dr. Claire Keane, associate research professor; Dr. Conor O'Toole , associate research professor; Dr. Paul Egan, research officer; and Dr. Muireann Lynch, senior research officer, for attending the meeting and answering all our questions. The meeting now stands adjourned.