Results 27,861-27,880 of 35,894 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: We will return to that point. In respect of the budget, the Minister has made it very clear, as he has every year, that it is the deficit targets and not the adjustment that is at issue. I have made the point that it is not even the adjustment figure that we should be debating but rather how that adjustment is applied - who pays the price. The CSO is reportedly looking at our data in terms...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: So it will be in excess of 1% of GDP?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: That saves a deficit reduction of about €800 million.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: I understand that. That recalculation could lead to-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: So that could deal with many budgetary adjustments without actually making any change just as a result of the recalculation of our GDP?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: The Minister previously mentioned to us in the Dáil that the rule of thumb is that for every-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: This is my last point. The Minister told us that the rule of thumb is that for every 1% increase in GDP, there is an adjustment of about €800 million that one does not need to make in terms of the deficit.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: There is no tax coming in.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: It will have an effect but it will be much smaller.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: It is a question. When I am sitting over there, then the Minister will be able to ask questions of me.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: My view is that the Minister's negotiating strategy has been appalling. He should have stood up for Irish interests. He is about to amend legislation to allow for a banking union to exist with no real commitment to direct recapitalisation. We met with German Bundestag Members today who spoke about the lack of political opportunities and the fact that it is impossible to sell the Irish...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: If the Minister would answer my questions instead of replying to my views, it would be more appropriate.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: I appreciate that the Minister is a long time at this game and is just winding down the clock. We can exchange views for all we like. With respect, will the Minister answer some questions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: Have there been amendments to the country-specific recommendations for Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: The intention is to implement these recommendations. What has been the interaction between the Government and the Commission on the latter’s view that the tax base for property tax should be widened?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: The Minister earlier said that Ireland needs to show progress in these in the next 12 months. Does he intend to broaden the general tax base in the next 12 months?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: I appreciate that. The Minister said earlier that there seems to be a difference of opinion between the Irish Fiscal Advisory Council and the Department on the structural deficit target. Is the Department and the Minister of the view that a structural deficit rate of 0% must be reached by 2018 to meet commitments under the fiscal compact treaty?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: With a debt of about 60% of GDP, to have a balanced budget means we must have a structural deficit of 0.5%. The Government is targeting 0% by 2018 but the fiscal council believes the Government is overshooting the target and is applying more austerity than is required to meet it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: I want to pick up on the last point. This was described by the Minister, Taoiseach and Tánaiste with the words "seismic shift" and "game changer". This was about getting our money back. The IMF has come out very clearly today in its report to say it supports the retroactive recapitalisation of the Irish banks. It does not represent people on this island. As the Minister for Finance,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)
Pearse Doherty: Can the Minister explain why we would not apply at the earliest opportunity, given the fact that we have waited a number of years to have banking union up and running?