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Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: The witnesses said that the electorate might get poor fiscal policy, which is not to say that it deserves or wants it. Deputy Lahart may have been correct in saying this is similar to the soft landing point in the economic cycle. The difference now, apart from voices on the Opposition benches and an over-reliance on regulators, is that we have at our disposal EU fiscal rules, departmental...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: He specifically stated that no other project would be forgone as a result of this overspend and that all of the moneys needed to meet the demands of the overspend would be met from future revenues. The FAC is saying that future revenues and the forecasting of the Government lacks credibility and is irresponsible. I want to know if it is irresponsible and lacks credibility to say that such...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: Mr. Tutty finds it difficult to say anything other than the obvious which would be concurring with me, which may be seen to be political from Mr Tutty's perspective. I am acting, however, on behalf of those who put me here to allow the electorate to be informed of the reality.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: I thank Mr. Tutty.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: Of course.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: The revenue the State was receiving from property-related activities in recent times and ten years ago was not a bad thing.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: It assisted in putting much of the infrastructure in place today that could take advantage of the upturn when it came.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: It was a volatile income, however.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: The State was reliant on the Opposition benches to point that out then.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: There are many more avenues, authors and fora where that is now being said, and is not being recognised or taken on board. What have we learned from the past?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: Exactly.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: They have been breached.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (11 Jun 2019)

Barry Cowen: A multi-annual health budget was recommended in 2015. It was promised, but it has not been delivered on.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: Is it that 20% of properties are reducing sufficiently in value that they compensate for the other 80%?

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: Regarding the Irish Fiscal Advisory Council, thankfully we have that forum available to us to independently and critically analyse the performance of the Government and the economy. Since the last soft landing, if we want to call it that, we have had the introduction of EU fiscal rules and departmental expenditure ceilings. They are not complementary to the present scenario. We have...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: I do not, they do.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: And they do.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: I did not say that. I said several.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: With cuts of €116 million per annum.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Barry Cowen: Therefore, it will not come from future revenues, as the Minister said previously.

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