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Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: I thank the witnesses for their report and for the detail it contains. It is concise and does not beat around the bush in its deliberations. A big play is made of the fact that it is no longer ten companies that contribute to the windfalls but, rather, three. This is a point not made previously, and it only serves to highlight the subsequent point made about the use of those funds and the...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: I ask the Deputies to interact with our guests.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: The Deputies interact enough in the Chamber.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Apart from our corporation tax revenue stream, we are no different from any other country.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Much of what the witnesses are saying now is to protect us against that happening in the future.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Others who cried wolf then are looking to repeat the faults of previous days.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Professor McMahon said it ranged from €4 billion to €12 billion.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: And of that €21 billion, Professor McMahon is saying that possibly up to €12 billion is repetitive.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: It ranges from €4 billion to €12 billion. Are we not safer saying €8 billion rather than €12 billion?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: If the council was back where we were 15 years ago, it would be asking whether property receipts would continue or things would remain "boomier", as they said.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Deputy Durkan made a lot of observations, rather than asking specific questions, but they were crucial nonetheless to the Deputy and those he represents. Perhaps the witnesses will respond in kind.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: You can ask the three together and judge from the response whether you need to come back again.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Everyone is looking for a bit of comfort here. We all want to spend the excess, so I would like the council to give us a definition that gives us the moral authority to respond to every demand throughout the economy. That is where we are at.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Internationally it is 8%.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Whereas we are at 27% or 28%.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: What is the percentage? If internationally it is 8% and it is 27% or 28% here, is Dr. Casey saying the adjustment will bring it back to about 12% or 13%?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: I thank the witnesses for making themselves available, their presentation and their responses. As I said earlier, this debate begins much earlier in the calendar every year, and this is especially the case this year. It is the beginning of an election campaign, at least by the parties if not by the Government. This is because the Government, as we know, is obliged to work to its own...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (22 Jun 2023)

Barry Cowen: Exactly. That, again, is working to a plan, and to a means by which we have the capacity to make inroads in that regard. We have seen various measures introduced, twice last year for example, to assist with the cost-of-living and inflation issues. Thankfully, we have had the capacity to make interjections there. The temptation is always to go beyond that. The temptation is always...

Written Answers — Department of Finance: Tax Code (22 Jun 2023)

Barry Cowen: 94. To ask the Minister for Finance for an update on the review of the personal tax system; and if he will make a statement on the matter. [30034/23]

Written Answers — Department of Finance: Departmental Reviews (22 Jun 2023)

Barry Cowen: 111. To ask the Minister for Finance if he will report on the second review of Home Building Finance Ireland, which he published last month. [30033/23]

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