Results 6,181-6,200 of 36,118 for speaker:Pearse Doherty

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: There was quite a bit of discussion before the budget about what that package should be. If I were to look back on the record, which I do not have, I think the council suggested there was scope within what was already unspent, which was about €2 billion. As I said, the overall expenditure was double that increase. I will not dwell on it, but it is an issue. I agree there was scope...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: Will Mr. Barnes explain something to people who are perhaps watching the committee? We have had inflation of 8% this year. It is projected to be 7% next year and Mr. Barnes has argued that some of the temporary measures can fall away. He has acknowledged that, when we take the two year period, those on fixed incomes will have a lower living standard next year. That is accepted by the...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: The only way that those on fixed incomes can maintain the living standards they had in 2021, is for deflation to happen which is not projected on anyone's cards for next year or the following year. Is that a fair assessment?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: With respect, even if energy prices come down, unless there is deflation those individuals will still be worse-off in 2024 as regards their living standards than they were in 2021. That is just a fact.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: Okay. I will move on due to time constraints. I understand that the Irish Fiscal Advisory Council is not supposed to discuss policy anyway. The witnesses discuss it a little more than their predecessors but that is perhaps for another day. I will just talk about inflation and the council's assessment that the primary drivers of inflation are in the areas of energy and food. Obviously food...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: People could be tuning in, and God help them if they are, who have seen their interest rates go up. All those who were told not to worry when their mortgage went to the vulture funds because they are regulated the same way, their interest rates today are 4.4% and 5%. They went up overnight. When the ECB announces its interest hike next month, it will go back up again for those individuals....

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: I am not suggesting that they should cut rates. I am asking if the tool they are using to fight inflation is actually fighting inflation now, or is it just giving them the flexibility to deal with the issues when supply issues are dealt with?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: I have two final questions. The witnesses talked about temporary measures, which are still even according to the budget 81%, or if businesses are excluded, 71%. I am not sure if there is any concern that there are still so many untargeted measures in the budget. The witnesses provided a really good chart in terms of health staffing and using the growth in the numbers who have reached ages...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: I thank Dr. Casey.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: Obviously, probably a decade of lost investment has to be factored in as well, so a lot of that type of investment is catch-up. From my recollection, when the national development plan was published and these numbers were factored into the multi-annual spending in terms of the budgets, the Irish Fiscal Advisory Council did not critique or criticise these figures. That is why I drew the...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (30 Nov 2022)

Pearse Doherty: Is it appropriate or not to go up to €2.1 billion? Was the old national development plan, NDP, appropriate or is the underinvestment of more than €2 billion, at a time when we are getting less for every euro? Does the council have an assessment of the appropriate levels, given the challenges?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Pearse Doherty: We have a serious number of amendments and a very technical Bill. I think there are 68 or 69 amendments that the Minister has submitted to this legislation which we received on Monday. We have a short period of time to consider it. However, it is very important legislation and we need to take ample time to make sure that it is right. Section 3 provides for the Central Bank to provide for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Pearse Doherty: On section 6, this is linked with section 4. In regard to the duties of responsibility it says that responsibility for the aspects of its spirit has been allocated to the person performing that function under arrangements adopted by the regulated financial services provider in accordance with the regulations made under section 48(2)(bc) of the Central Bank (Supervision and Enforcement) Act...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Pearse Doherty: I thank the Minister. That might be helpful. Looking at section 48 of the Central Bank (Supervision and Enforcement) Act 2013 which is on irishstatutebook.ie. Section 48(2) gives subsections from (a) to (y). Is that the section I am supposed to be looking at?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Pearse Doherty: If I am looking at section 48(2) and there are subsections from (a) down to (y), where is (ba)?