Results 4,661-4,680 of 32,432 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We were in an atmosphere, as I am sure the Deputy will know, of grappling with the global effects of a pandemic. That meant that we had to put in place extraordinary measures at different points to help us protect our economic and society. The core spending plans that we announced, particularly in last year's budget, were consistent with the expenditure benchmark that the Government had...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: That remains to be determined. It will obviously depend on the overall scale of the package. It could impact on what the general Government balance will be. The Government and the Minister, Deputy Michael McGrath, and I will form a view on that during September.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I cannot give that commitment at the moment.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Because the figures for September will not be available to me until later that month. We will examine-----

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Hold on. I will answer the Deputy's question. We will examine whether it is possible, but I cannot give that commitment at the moment.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I understand the Deputy's argument. I cannot give that commitment at the moment.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: A legal impediment?

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Yes, there is.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We were in the middle of a pandemic.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We had a pandemic still raging.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We did publish them across the period but when we published them, we said that their level of accuracy was significantly lower than we normally accept. When we published them and fulfilled our legal requirement - as opposed to legal impediment - we said that their level of accuracy was in some way short of what it normally would be. In fact, as part of the medium-term budgetary strategy,...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I believe the budgetary strategy that the Government has outlined is the appropriate strategy. Of course, I am absolutely aware of the costs and difficulties many people are facing throughout the summer period. However, the Deputy is aware of all the measures we brought in as the year has progressed and the additional measures brought in by the Ministers, Deputy Humphreys and Foley, to help...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: The Deputy rarely does that.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I will deal with the question on revenue-raising measures first. Every budget that we introduce brings in additional measures that raise revenue. I would expect budget 2023 would be no different. There are always measures that allow the Government to raise additional revenue to fund changes in expenditure or taxation elsewhere. We have to get the balance right. I have always recognised...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I want to add to what the Minister, Deputy McGrath said regarding the recognition of those who do not qualify for social welfare payments, but are in work and clearly face new difficulties because of the higher price of energy and food. That is why there is complete agreement in government regarding the role of indexation in our personal code. The Minister, Deputy McGrath, and I recognise...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I acknowledge the huge work the Minister for Public Expenditure and Reform and his Department have done on this. He will elaborate on the framework in a moment. I welcome the Deputy's recognition in this regard. It also formed part of the national economic dialogue, where we tried to broaden the evaluation of how we are doing beyond the very traditional economic measures of GDP and...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: I will kick off because the Deputy opened with questions that are relevant to me. I do not foresee any changes in our budget day parameters between now and budget 2023 being announced. At €6.7 billion, it will be the largest budget in core spending that any Government has introduced in Ireland for quite some time. However, as the Minister, Deputy Michael McGrath, has said on a...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: The percentage reduction is faster. All other things being equal, on our current forecasts we are still expecting our national income to grow. That is particularly important. At the start of the year the interest we were paying on our national debt for new borrowing was approximately zero and today it is 1.7%. I will note, before others make the point to me, that the 1.7% is a reduction...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: Croí Cónaithe.

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: We will give the points raised by the Deputy about the operation of the Living City initiative very serious consideration. A proper review of the scheme has been done and I will be getting a copy of the report very shortly. The Deputy raised some very reasonable points regarding how what is a very targeted scheme could work better and they will be given proper consideration in the time...