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Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: That is exactly my point. Currently, prices are already nearly back to peak levels whereas incomes are certainly not in terms of purchasing power so there is a problem. In many cases, people cannot buy at these prices and if they are going to buy, they are going to have to take on a lot of debt. That is a fiscal risk. It is not just a housing problem. It is also a fiscal risk surely if...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: I would just-----

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: There are a couple of other issues I wanted to raise. However, I would suggest that Mr. Coffey should look very closely at this issue from a fiscal point of view. Long before the housing crisis was publicly acknowledged, I warned Dr. John McHale that it was coming. He said he would look at it, but did not recognise it as a danger. A year later, everybody on this committee and the...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: No.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: I agree with Mr. Coffey. His point is absolutely right. Housing associations are involved in the rest of Europe. That is not what is happening in the Rebuilding Ireland plan. They have slightly changed the balance, essentially because of people protesting over the last year. However, the change is only very slight. Looking at the Rebuilding Ireland proposals, we see that the majority of...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: I clearly think they are a risk. Am I out of time, Chair?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: I clearly think they are a risk. However, is it not part of the IFAC's job to identify those risks? The witnesses have identified some risks. They say Brexit is a risk and they note the over-reliance on MNCs. Is it not the logical follow-on that we must diversify away from those areas? To diversify, we must invest and do so strategically, I would have thought. Why emphasise the rainy...

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: I forgot to thank Mr. Coffey in my initial contribution. If I was being rapid with the questions, it was only because I was up against the clock.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: I know. I appreciate all the work. Mr. Coffey is coming in next year to talk about corporate tax, is he not?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: On the report?

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: We asked Mr. Coffey before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach met but we did not get him in.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: We were hoping to get Mr. Coffey in and thought we agreed that he was coming in next year. I hope he is coming in.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: Do not worry about the finance committee. This is the Committee on Budgetary Oversight.

Committee on Budgetary Oversight: Fiscal Assessment Report: Irish Fiscal Advisory Council (6 Dec 2017)

Richard Boyd Barrett: Mr. Coffey identified that the knowledge development box, intangible assets, allowances and so on that were benefitting a small number of IT companies was not necessarily translating into higher levels of investment. Does he think that needs to be looked at? Developing and innovation is part of developing a sustainable economic model. If available public expenditure is going into a small...

Business of Dáil (6 Dec 2017)

Richard Boyd Barrett: No.

Business of Dáil (6 Dec 2017)

Richard Boyd Barrett: May we table amendments to the Government's proposal?

Business of Dáil (6 Dec 2017)

Richard Boyd Barrett: I formally move amendment No. 1:That the matter be referred to the committee for next week and that no vote take place in the Dáil until the new year.

Business of Dáil (6 Dec 2017)

Richard Boyd Barrett: The public knows nothing nothing about this.

Business of Dáil (6 Dec 2017)

Richard Boyd Barrett: What has gone on here stinks to high heaven. Something of absolutely enormous significance about advanced co-operation across Europe to progress the militarisation of Europe and ramp up the arms industry was not notified to the Business Committee and is being pushed through at a few day's notice. A vote is to be taken which, when one looks at the 20 different commitments under the PESCO...

Business of Dáil (6 Dec 2017)

Richard Boyd Barrett: That is what I think. Why then has the Government told us there is a deadline? The deadline for the Government is the EU Council meeting.

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