Results 10,721-10,740 of 28,162 for speaker:Catherine Murphy

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: If the Department surrenders moneys to itself, I presume it can ask itself permission to include those moneys again. I presume that is a policy matter relating to the budget.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: I want to touch on the contribution to the EU budget, which is quite a sizeable amount of money that is determined by our GDP. Is that the case?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: Obviously, we have GNP, GDP and GNI. How do we relate in terms of GNI and our profile? There is quite a lot of movement by multinationals. There was an onshoring of IP. As a result of how we account for things, are we paying more than we would if we did not have the abnormal situation we have in this country?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: What would we calculate that additional cost at?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: That was unique to 2015.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: I will go through a number of different matters.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: That is quite a sizeable amount.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: With regard to general government debt, there was very strict control right across the sectors, particularly at the time of the crash. I was very conscious of local authorities having very sizeable amounts of cash in hand from development contributions that they were not permitted to spend. They were only permitted to spend what they took in during a particular year. Does that still apply?...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: They have cash in hand from development contributions, etc. Does Mr. McCarthy have any idea of the amount involved in this regard?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: I know that at one point, it was over €1 billion. I know it is substantially less than that now but I do not know the figure.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: I would appreciate that.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: They are the only two sectors. We had the conversation last year about the ratio of debt. That ratio changed because of a quite dramatic increase in GDP. If I remember correctly the Department expressed surprise at that. Has the Department figured out what really happened? The Central Statistics Office is responsible for producing the figures. Is this change accounted for and does the...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: I was going to come to the point around risk. The reality is that we are trying to get to 60%. We have a huge national debt of more than €200 billion. The amount of money did not change so we still owe that-----

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: Give or take the odd billion.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: How that figure is calculated is incredibly important. Obviously, Ireland's ability to borrow for capital projects, for example, is determined by our debt to GDP ratio. Is this the case?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: I am looking at the calculation for every 1% change in the annual cost of servicing the debt. It is €500 million euro to service the debt. This is a very sizeable amount of money and it limits the State's scope to do other things. When it goes from 3% to 3.5% the 0.5% makes quite a bit of difference. These accounts tell us that the National Treasury Management Agency, NTMA, has...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: The IMF debt was paid off also. Were they more expensive and is this the reason they were paid?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: What interest rate are we paying on the UK loan?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: It cost Ireland €6.7 billion in 2016 to service that debt. This is the cost of running the Department of Education and Skills, or maybe just a little bit more, from pre-school services right through to third-level funding. To quantify it, it is a very sizeable amount of money. Not all of that is the debt from the crash as there would have been a residual debt before that.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council (19 Apr 2018)

Catherine Murphy: Mr. Tobin has actually anticipated the question I was going to ask, which was around the anticipated case for the 2018. What was it for 2017?