Brian Ó Domhnaill (Fianna Fail) | Oireachtas source

I encourage all Oireachtas Members to attend the briefing being given by the Irish National Teachers Organisation, INTO, today in the National Museum of Ireland. Its concerns facing into budget 2020 are all straightforward and include improving educational outcomes for children, reducing class sizes, supporting teaching principals in schools with one to four teachers and securing additional resources for the capitation grant. They are reasonable demands that would not impose a considerable burden on the education budget. I hope they can be delivered on in the autumn.

In a report issued this week the International Monetary Fund, IMF, made a concerning forecast that Ireland was entering uncharted waters in advance of Brexit and effectively heading into the winds of a recession, with a prediction that the economy could contract by anything up to 5% when or if the United Kingdom withdrew from the European Union.The IMF also refers to the need for the rainy day fund. My concern is that the Government's proposals, which are contained within legislation before the House, cap that fund at a figure in the region of €8 billion. I do not know why that is the case. I know the Minister gave his rationale but capping a rainy day fund when we are facing into a recession is not the right thing to do. We should have a debate on this matter, before the summer recess if possible. I know the Government is looking at two budgetary scenarios for October, but we are facing down the barrel of a recession, particularly in light of the way in which the Conservative Party is conducting its leadership election. It is likely that whoever is appointed as the new British Prime Minister will have to withdraw from the European Union to show that he has achieved something. I ask for a debate on that issue, if possible between now and the summer recess.