Results 6,841-6,860 of 26,037 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: For the first half of 2014, we have seen a phoenix-like rise in construction and the other areas of investment, which is feeding into growth. Am I correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Therefore, we are not seeing an enormous jump in the construction sector, but we are seeing it in investment in machinery and other areas. Mr. McCarthy is effectively saying that in the commercial economy, in terms of job creation and the SME sector, reinvestment is taking place.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Looking at the figure of 30% to 40%, how much of it and how much of the 9% figure for construction has to do with Government investment? This is based on a model which is driven by job creation, with added value; therefore, we are not worried about the growth in construction, which is relatively moderate and holding its place. Am I correct in my analysis?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: On the investment about whcih Mr. McCarthy is talking, a 14% increase overall for the year, is it all private investment? How much of it is State investment?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: What has it added to the growth rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Materially, it does not have that impact.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: If I am to analyse it, the construction sector is not seeing a huge increase from last year. In the SME and research and development sectors there is substantial growth, particularly in investment in new plant machinery and so forth, while the figure for the manufacturing sector is going up by 30% to 40%. We are looking at the figure for research and development going up by 11%. I wish to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Will Mr. McCarthy deal with the patent cliff issue? It is a source of puzzlement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: The fact is that GNP was up significantly, which would have feed into domestic demand.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: I wish to ask a broad question. With the projected growth rates for the economy, when will more be taken in than will be spent? We must meet the 3% target by the end of 2015. Let us, therefore, consider the projected growth rates. When will we balance the books?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Correct. We were in surplus prior to paying interest. Am I correct in that assertion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: There is a primary surplus also. Am I more or less correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: When?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Mr. McCarthy has told me that he expects it will happen before 2018.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: What would be a sustainable growth rate for an economy?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Is that figure based on the construction sector accounting for no more than 10% of GDP?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: Let us look at the figures. We have seen huge growth in investment this year, but it has not filtered down into a massive growth in consumption. Obviously, companies are investing and jobs are being created. Also, we are coming from a very low base in 2013 in terms of investment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: The figure for 2015 is probably more sustainable because the figure for 2014 has been healthy. Is it fair to say we will still have a deficit in 2014 and 2015? What does the Department expect the deficit to be by the end of 2014 and 2015? We have had very healthy growth in the economy, but there are still very high debt levels.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: What is the most recent figure published?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Kieran O'Donnell: What is the value of the deficit?