Results 21,181-21,200 of 35,889 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Minister of State (7 Sep 2016)
Pearse Doherty: I thank the Minister of State.
- Business of Dáil (7 Sep 2016)
Pearse Doherty: He answered everybody else's.
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: I have a couple of questions. Will I ask them all at once?
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: Is it okay to ask them one at a time?
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: Cuirim fáilte roimh na finnéithe go dtí an coiste. An chéad cheist relates to a submission we have received from the ESRI. I will quote it first and then ask for the bank's view. It states:[I]t is difficult not to mention proposed cuts in the Universal Social Charge in the context of discussing the need to maintain the breadth and stability of the tax base. The USC has...
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: Without going into the specifics, would the Central Bank have a view on the stability of the State if a Government were to start eroding the tax base and creating vulnerabilities? Would the Central Bank remain mute on that issue?
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: Dr. Fagan may have the same answer to my next question. The ESRI also states in its submission to this committee that it produced a report last year on the mortgage insurance scheme. That report states:Through our analysis of the effect of tax breaks, we would argue that any tax breaks aimed at developers will have little effect on supply if the first three factors [that is, lack of...
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: I know Dr. Fagan is the chief economist in the Central Bank, and obviously we are talking about a different era, but I get a wee sense of déjà vu. I sat on the banking inquiry with a number of members of this committee and we had Central Bankers and staff coming in saying they had issued letters saying the tax breaks should be broad despite the fact that the Government had reduced...
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: Dr. Fagan talked about the new process the Central Bank has developed in terms of measuring the economy and the need to have a credible measure. I assume Dr. Fagan believes the current way we measure GDP is not credible. Can he also tell us for how long he believes that method has not measured our economy in a credible manner?
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: Whatever measure it comes up with will not be internationally accepted. We will basically have our own home-baked way of measuring the economy, yet in relation to the application of the fiscal rules, our comparisons in terms of OECD data are with our European colleagues. We will be using measures that everybody in this room believes are not credible and will, therefore, give us a very...
- Committee on Budgetary Oversight: Analysis of Economic Forecasts: Central Bank of Ireland (6 Sep 2016)
Pearse Doherty: May I ask a final question? Every month the Central Bank issues on its website the number of qualified investor alternative investment funds that have been registered with the Central Bank. Over the past few months we have been drilling down into the accounts of some of those funds. Dr. Fagan will be aware that if they are foreign-owned, they are completely tax-exempt in Ireland. However,...
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: Many of the issues have been covered. I welcome Dr. McDonnell to the committee and thank him for sharing his views and thoughts on these matters, and particularly for the excellent documents the Nevin Economic Research Institute has been producing, which are easy to comprehend and add to the understanding of complex matters by parliamentarians and the public. Dr. McDonnell made clear his...
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: In regard to the universal social charge, USC, those in political circles who advocate such a position reference the high marginal tax rate as a tax on employment that is off-putting to investment and employers who want to create jobs. The Economic and Social Research Institute, ESRI, which will appear before the committee in the future and which has provided us with its view on this matter,...
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: I wish to ask Dr. McDonnell a couple of other brief questions. I introduced the issue of child care which the ESRI had flagged up in that context. Some of the policy options that are floating about on child care include, for example, tax breaks for parents as a way of supporting child care, as opposed to direct intervention and support for operators. What is Dr. McDonnell's view on that? ...
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: Finally, I refer to the table provided on page 3 of the research in brief document by the Nevin Economic Research Institute, NERI, on the fiscal space. Has that table, with rows from A to N, been put together by NERI or has it been dragged from other sources? Is it the NERI's own-----
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: Yes, but the figures on the reference rate for potential growth are-----
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: They are official figures that draw upon the 3.5% average.
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: When will that be locked in?
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: That will be calculated by the Department of Finance itself.
- Committee on Budgetary Oversight: Economic and Fiscal Position: Nevin Economic Research Institute (6 Sep 2016)
Pearse Doherty: I must say that Dr. McDonnell's table is the best I have seen in terms of the walk through. He makes the point that if the reference rate had increased by 0.5%, there would have been a reduction of €1.8 billion. The opposite would also be true.