Budget fiscal space
Joan Burton seeks clarity on the Government’s fiscal space, new taxes, and the meaning of “hidden fiscal space.” The Taoiseach says the budget is still being negotiated and explains the term as savings from items that may not recur next year.
With regard to this year's budget, will the Taoiseach clarify what the overall fiscal space might be for the proposals the Government intends to announce in two weeks' time? I am particularly interested in hearing the amount the Government intends to raise in new or increased taxes it already has referred to, such as the sugar tax and excise duties and so on, to allow and provide for spending increases.
The Taoiseach has also spoken at length about a concept termed "hidden fiscal space". What is that and how much hidden fiscal space has now been identified? In the context of the budget, a lot of people are worried about what will happen regarding proposed changes in property taxes, revaluations and, potentially, rates beyond 2019. People deserve an answer and clarity on that and where they stand, in particular people living on their own in houses and paying out of a pension or social welfare income.
Comment on this
I cannot answer those questions for the Deputy today. The budget is still under negotiation and discussion and there are many moving parts to it, as with any budget. It is not possible at this stage to indicate the exact tax measures. The term "hidden fiscal space" refers to savings and things that had to be paid for in 2017 which might not have to paid for in 2018. It includes things such as the fall in the live register numbers. If they continue to fall, that will obviously result in savings.
Comment on this
That is not hidden fiscal space at all. It is very visible.