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Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Where is Ireland in the pecking order of contributions compared with the last 11 member states to join the EU, which would be poorer countries? I know we would not be up with Italy, England or Germany which are paying 50%.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: On Brexit, there are various predictions about what will happen and where it will leave us. If the £11 billion which it puts in annually is removed from the system, other countries will have to make up the difference or we will be behind in our budgets. What do the officials see as happening to Irish contributions post Brexit? Will the contributions increase?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: To Ireland?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: So we would go from contributing about €2 billion to €6 billion?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: So it would be €6.7 billion.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: I understand that. I am only asking for a ballpark figure.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: When looking at Ireland's capacity of going from €2.7 billion to €3.1 billion, does our large national debt come into play? I suppose other countries also have one, but per head of population our debt is large. Does that come into play?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: How is it formulated then?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Are there any allowances for the big national debt?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: On gross domestic product, could the officials elaborate on EUROSTAT figures and the huge surge in GDP? There was a peak of general Government gross debt of 120% in 2012 and 2013, 79% in 2015, and 73% in 2016. There was an exceptional increase in Irish GDP in 2015 and 2016. Can the officials explain that?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: How did that happen?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Was this a paper figure or was it real?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Is it more balanced now? That was one particular year when it went mad. Is it at a more level rate now?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: That leads on to corporation tax, which is also under the Department's remit, and all the trouble with the EU and America, where the President is talking about trying to bring back jobs and so on. Our corporation tax of 12.5% is under pressure. The EU has been at it this week too. The President of France wanted to change the rules and regulations and that would have an effect on us. ...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Does Mr. Moran think we can hold out at 12.5% as the pressure comes on us?

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Are we going to lose out? The finger is being pointed at us. Many international companies were coming here, selling into Europe and bringing their profits here. It was suggested that Ireland was a low-tax destination. Some individuals were even calling Ireland a tax haven. I would like to hear Mr. Moran's view on that.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: An effort is being made to change the rules so that companies with certain sales in France or Germany pay tax on those sales in those countries. We would lose out in such circumstances. Up to now, we would have gained from such transactions. Now it is proposed to take the tax at source in Germany, France or wherever these sales are made. That means we will be at a loss, which will affect...

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: That is right.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: No one will have to pay tax twice. It will be paid in other countries and not here.

Public Accounts Committee: Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
(19 Apr 2018)

Bobby Aylward: Mr. Moran is saying that this will not happen for years.

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