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Public Accounts Committee: Business of Committee (14 Jul 2022)

Neasa Hourigan: No, on the same day because it is all in the same fund.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: Apologies have been received Deputies Durkan and Doherty. I welcome representatives from the Economic and Social Research Institute, ESRI, back before the committee to discuss the quarterly economic commentary and the inflation outlook. On behalf of the committee, I welcome Dr. Kieran McQuinn, Dr. Karina Doorley and Dr. Conor O’Toole to the meeting. I wish to explain some...

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: I thank Dr. McQuinn. Is Deputy Boyd Barrett ready with his questions? He is first up.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: Mr. O'Toole would like to come in.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: We seem to have lost Deputy Healy-Rae, unfortunately. We will try to get him back but, in the meantime, will Dr. McQuinn address any of the points he brought up?

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: Deputy Healy-Rae is nearly at the end of his time.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: I thank the Deputy for finishing up. I will suspend the meeting for approximately 25 minutes. That will hopefully be the time required. Deputy O'Donnell will be the first speaker when we resume.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: I thank everyone for their forbearance. I apologise but I cannot guarantee there will be no more votes called. I believe Deputy O'Donnell had the floor.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: I hate to interrupt Deputy O'Donnell, but a vote has been called. Perhaps at a later date I would like to explore his point about the ESRI taking a view. I suspect that Deputy O'Donnell and I take polar opposite sides on that argument.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: It is very interesting to have an independent body if its role is to take a view.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: That is why I am picking up on it. I would love to explore that more with the Deputy. I am afraid we must stop for another vote. I apologise. I suspect it will be about another 20 minutes and then Deputy Ryan and I will contribute. If we have more time, we will give other members a chance. Of course Deputy Boyd Barrett can come back with more questions.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: I apologise again for that break in proceedings. There was a vote in the Dáil. We are waiting for Deputy Ryan to come online. She is just coming from the Chamber. In the meantime, I will ask some questions of my own. I noticed that the word “prudent” was used in the context of fiscal policy. This might sound like a blunt question, but could the witnesses outline the...

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: Great. I concur with Dr. McQuinn on the targeted measures aspect. Following on from that, one of the paragraphs, which I am slightly truncating, so I may perhaps be misrepresenting it, refers to the reduction of the taxation burden in general also constituting an unwarranted stimulus into the domestic economy now. We have heard several politicians and commentators talk about how taxation...

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: So tax foregone is essentially a cut.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: And in Dr. McQuinn's estimation, it being neutral from a taxation point of view would lessen the likelihood that it would increase inflation.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: Thank you, Deputy Ryan, and I appreciate you coming back to the committee from the Chamber. I call Deputy Farrell.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: We have not.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: We have gone over our three-hour allocation, which was hugely disrupted. I apologise again for that. I thank the witnesses from the ESRI for coming in and for their forbearance with all of those disruptions. We will be meeting with the Ministers for Finance and Public Expenditure and Reform next week. We will go into private session.

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: Would Dr. McQuinn consider the introduction of another tax band, a form of tax cut?

Committee on Budgetary Oversight: Economic Quarterly Report - Summer 2020: Economic and Social Research Institute (6 Jul 2022)

Neasa Hourigan: I asked Dr. McQuinn to respond to some of Deputy Healy-Rae's points while we trying to get him back.

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