Dáil Éireann Debate, Wednesday - 24 September 2014
59. Deputy Pearse Doherty asked the Minister for Finance if his reported comments on 18 September 2014 that getting the deficit below 3% of GDP next year could now be achieved without further spending cuts or tax rises are based on the collection of €500 million in domestic water charges next year or on an assessment that excludes this €500 million. [35969/14]
View answerBased on the latest macroeconomic and fiscal data, it is now expected that a deficit of less than 3% of GDP can be achieved without further tax increases or expenditure cuts over and above what has already been outlined. This is primarily as a result of the better than expected tax take and improving economic outlook. However, I would make the point that these estimates are subject to finalisation in light of the end-September Exchequer figures and other salient information.
With regard to water charges, I am informed by the Minister for the Environment, Community and Local Government that the Commissioner for Energy Regulation is to make a determination on the level of charges later this month. The monies raised for water charges will be received by Irish Water which is a not part of general government. As such, these receipts do not count as general government revenue and accordingly will not impact on the deficit.
