Results 8,821-8,840 of 28,162 for speaker:Catherine Murphy

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: There was a commitment – it was called a game-changer – regarding retroactive recapitalisation. This would be the area it would fall into. Has that been eliminated as any kind of a prospect at this stage?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: The Department, headed by the Minister, has not done anything actively with the European institutions to change that. Is that Ms Nolan's understanding at this stage?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: The opening statement referred to competitiveness. IFAC will be advising on the fiscal approach and what fiscal space there is, to use the terminology. One of the big measurements that seems to come into play in relation to competitiveness is wage inflation, but some of the big multinationals on which we are so dependent - we just heard that - are highlighting a whole other issue, namely,...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Yes, but if there is such a big gap, the intervention of building becomes a very real issue for the Department of Finance.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Yes. I might come back to this in a minute but I wish to get a few other questions in that I particularly wish to ask. We heard this morning about the money that was released from Deutsche Bank for the recent AIB share sale. What is the intention for the additional €400 million?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: What difference in percentage terms did the sale of those shares make, including that amount, on the extent of our debt?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: I want to talk about the general government debt. Obviously a whole lot of things help to define it. It is not just the Department of Finance. I am acutely aware that local authorities, for example, hold several hundred million, for example, in development contributions that they are not permitted to spend because it is obviously keeping a balance in terms of the overall balance of the...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Is Mr. Moran concerned that it could fall within his remit if it was reviewed?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Okay. I want to come back to the overall debt and the exposure as given that it can move in, equally, it can move out. For example, the Apple ruling at European level is being challenged in the courts but while it is being challenged, where does that sit in relation to our overall debt because it would clearly be counted in as an asset until a challenge is successful, if that is the case?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Right, okay. We have the debt-----

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: We have the total amount of debt for 2015. What does it stand at today?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: So it has been pretty much static since 2015?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: It is quite a sizeable factor in servicing the debt because it obviously takes away our ability to invest in public services. We pay more taxes and all of that. In terms of our exposure, onshoring seems to me to be something to which we should be paying very serious attention. Has a risk analysis been carried out in respect of it? If it was to go back up to 120% as a result of an...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: If the new calculation brings it up to 100%, is that how it will be viewed with regard to our debt-to-GDP ratio as it relates to the euro, for example?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Is analysis carried out in respect of why this intellectual property was onshored and why Ireland was chosen?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Yes, but they are choosing to come here. Are they choosing to go to other European countries with, for example, higher corporate tax rates or are they coming here because of the corporate tax rate?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: Will they be real activities or could we find ourselves in a situation similar to that relating to Apple?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: May I ask one more question?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: It strikes me that a lot of this stuff is not terribly obvious; ribbons are not being cut and things like that. We did not see a whole lot of it in 2015. There are very real things, such as housing, that have a real impact on the economy on a permanent basis. Where, in theory, there are some funds available, our ability to borrow is one of the big impediments to solving this problem....

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Catherine Murphy: It is unsustainable not to have an affordable housing option for an economy. It drives a whole lot of things, including wage inflation. That is just an opinion.