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Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: Does the Minister accept the figures IFAC put forward regarding an enhanced surplus from €1.2 billion to €4.5 billion, which is €3.3 billion? Is it within that range?

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: Correct.

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: That is where the rainy day-----

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: That is my question. What level does the Minister anticipate putting into the rainy day fund?

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: Are the Ministers still sticking to the underlying parameters set down in the summer economic statement, which are based on a €1.2 billion surplus? If there are unexpected windfall tax gains and the floor level is the summer economic statement, does it provide the latitude to deal with these extraordinary times of energy costs going to such a level that businesses and households will...

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: Will they be once-off measures?

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: That was not the question.

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: I accept the point of principle. However, we have had an unusual event where we have this surplus unexplained corporation tax. The question is about what use we put it to. In the environment we are in now, businesses are under such incredible pressure. The question for me is whether we get better value in the overall economy by ensuring they can come through by way of once-off measures...

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: I have two very minor points. The Minister for Public Expenditure and Reform made a reference that Europe will not have the decision made on the detail of decoupling in terms of energy costs and the level of funds will come back to Ireland. The Minister is giving a commitment, really, that this decision will be post budget, and that we may have a situation where further measures may be...

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: Does the Minister have any idea when Europe will make its decision?

Committee on Budgetary Oversight: Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion (Resumed) (14 Sep 2022)

Kieran O'Donnell: I thank both Ministers. I thank the Chairman for her indulgence.

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