Results 1,121-1,140 of 6,297 for speaker:Gerald Nash

Mortgage Interest Relief: Motion (Resumed) [Private Members] (20 Sep 2023)

Gerald Nash: I move amendment No. 1 to amendment No. 2: To insert the following after "at their disposal": "— calls for mortgage holders with performing loans held by vulture funds to be provided with the option to refinance those loans through the Local Authority Home Loan scheme; and — calls for the passage into law of the Central Bank (Variable Rate Mortgages) Bill 2022". I am...

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Gerald Nash: The Central Bank said yesterday that the Government's stance is likely to be expansionary. Would IFAC agree with that in the first instance? Do our guests agree that the budgetary and fiscal stance that is to be taken in October is likely to contribute to inflation? The Central Bank said yesterday that its forecast for inflation next year is about 3.2%. When I questioned its...

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Gerald Nash: There has been an effort to explain it as the impact of inflation across society. We know from experience and, more importantly, from data, who is most adversely impacted by high prices and inflation. It is rural dwellers, lone parents, and those on fixed and low incomes. The stickier this becomes, the more impact it will have on those groups that, as Deputy Boyd Barrett said, are least...

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Gerald Nash: Such as, for example, what were described as once-off social welfare payments that could become a feature of the system if policy decisions are taken.

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Gerald Nash: That is positive. How does IFAC take the criticism from the Government? It has been quite critical.

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Gerald Nash: I have one more question in the time available. In a previous report IFAC said, and I am paraphrasing, that for the Government to meet its existing ambitions under the current national development plan, additional expenditure of 24% would be required. Does the council still hold to that? That is over the next period of years.

Written Answers — Department of Transport, Tourism and Sport: Transfer of Undertakings (20 Sep 2023)

Gerald Nash: 101. To ask the Minister for Transport, Tourism and Sport if his Department and/or agencies under the aegis of his Department have ensured that EU transfer of undertakings (TUPE) requirements will be applied in full by the new operator of the search-and-rescue helicopter contract as it relates to employees of a company (details supplied); and if he will make a statement on the matter. [40062/23]

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: The witnesses are all very welcome and I thank them for their presentation. In its statement and in a range of different interventions it has made recently, the Central Bank seems to be saying that the spending and tax plans set out by Government both in the summer economic statement and, subsequently, in the more concerning pathway it put into the public domain post the summer economic...

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: May I make an intervention, just to be clear? It would be useful to get a sense of this from the Central Bank. These are the published figures but €4 billion in non-core expenditure is also expected. Will Dr. Kelly add that into the calculations?

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: This excess spending, as Dr. Kelly would have it, is adding to inflation and creating a bigger problem. This excess is also counter to the approach of the ECB.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: Government spending is contributing to higher rates of inflation than would otherwise be experienced.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: Tax cuts contribute to fiscal expansion and, therefore, to inflation.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: I mean tax cuts contribute if they are net tax cuts in other words, unless revenue is generated from another source to make up for them.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: If we accept the Central Bank's forecast for inflation next year at 3.2%, is Dr. Kelly in a position to provide us with at least an estimate of how much of this inflation next year will be accounted for by the Government's expansionary budget, as he has described it? I am using his own term when I say "expansionary". Would it be 3%? Would it be 2.9%?

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: Okay. That is significant. I have a few more questions to ask in my limited time. They go back to a point I touched on earlier concerning so-called once-off expenditures. We are getting into a dangerous game now where we have three or four separate expenditure headings. It seems to me that this Government must know more about the conduct and outcome of the war being waged on Ukraine...

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: It refers to what happens here in terms of the impact on our finances. We are happy to do this but it is about how we do it.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: They have been forced to do so.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: But non-core.

Committee on Budgetary Oversight: Pre-Budget Engagement: Central Bank of Ireland and ESRI (19 Sep 2023)

Gerald Nash: To do that, I think Dr. Kelly, as an economist, will agree with the recommendations or overarching guiding principle of the report of the Commission on Tax and Welfare. It stated that to have a more sustainable tax base, which we would need to allow us to have the resources required to do the things I think we all agree we want to do, we would need to broaden the tax base rather than narrow...