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Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: The Deputy may make one quick point because a number of other people wish to speak.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: I am sorry, Deputy,-----

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: Does Dr. McQuinn wish to answer?

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: I call Deputy Boyd Barrett, who has five minutes. I mean that. I ask him to do the best he can. If he could ask his question in a focused way, it would be great.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: Yesterday, DKM told us there would be fines of €610 million by 2020 in respect of climate change if we did not reach our targets, with between €3.7 billion and €5.5 billion by 2030. These figures are quite significant.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: At one point the ESRI indicated that any benefit outweighed the costs of the help-to-buy scheme. Is that right?

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: Okay.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: I thank Professor Barrett. What I referenced there, as the clerk just pointed out to me, about the help to buy scheme is that the ESRI says that previous development incentives were extended to such a level that any benefit is outweighed by associated costs. I think I may have said it the other way around, according to the clerk. I have been here for three and a half hours.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute (13 Sep 2017)

Josepha Madigan: I had a syntax malfunction. I thank Professor Barrett, Dr. McQuinn and Dr. Lawless. We appreciate their contributions and presentations. I thank members of the committee as well.

Committee on Budgetary Oversight: Business of Committee (19 Sep 2017)

Josepha Madigan: Before we bring in our witnesses, we will go into private session to deal with housekeeping issues.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: Before we begin, I remind members and witnesses to turn off their mobile phones. Interference from mobile phones affects the sound quality and transmission of the meeting. I welcome from the Irish Business and Employers Confederation, IBEC, Mr. Fergal O'Brien, director of policy and public affairs, and Mr. Gerard Brady, senior economist, and thank them for making themselves available to...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: I thank Mr. O'Brien. One of the advantages of being Chair is that I get to ask a couple of questions before other members. They do not really have a choice. I will be very brief. I am curious about the USC. IBEC notes that international best practice advocates a broad tax base with a low marginal tax rate. In Ireland we obviously have a narrow tax base and a higher marginal tax rate....

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: IBEC has stated that plans to cut the USC "would make this worse and move Ireland further away from international best practice". That was in its pre-budget submission.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: Mr. O'Brien accepts that.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: I thank Mr. Brady. The first questioner is Deputy Lahart. I will give him ten minutes.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: We can move on. That is fine.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: Deputy Heydon has five minutes, but ten if he needs it.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: The woman's place in the home is enshrined in the Constitution.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: Before Mr. O'Brien answers, apropos of what Deputy Ryan is saying, how can we future proof budgets against climate change?

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2018: Irish Business and Employers Confederation (19 Sep 2017)

Josepha Madigan: What would IBEC propose for future budgets?

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