29 Jul 2021, 16.31
The Committee on Budgetary Oversight has published its Interim Pre-Budget 2022 Report.
The doubling of capital investment in public housing in Budget 2022 is among 30 observations and recommendations made in the report.
The interim report warns that while economic conditions and forecasts appear positive, significant risks exist including the trajectory of the Covid-19 virus. The report notes that ongoing international discussions could have a significant impact on Ireland’s corporation tax revenue.
Cathaoirleach of the Committee Neasa Hourigan TD said: “Pre-Budget scrutiny is a core function of the Select Committee on Budgetary Oversight’s work programme. The Committee identified a number of budgetary priorities and decided to hold meetings on three topics, the cost of climate change, tax expenditures and capital investment. The Committee also identified a number of other issues throughout its recent engagements.
“As the economy recovers from the pandemic there will need to be continued support for some sectors, while significant investment is required across a number of areas including housing, health, climate action, transport.
“The Committee will continue to seek improvements to the budgetary process to improve the transparency and effectiveness of decision making. The Committee will continue its pre-budget scrutiny in September and publish a Final Pre-Budget 2022 Report in early October.”
Tax expenditures, the Electric Vehicle (EV) strategy, climate related infrastructure, investment in public transport, deficit and debt trajectories in the Summer Economic Statement, congestion charges, the Public Service Performance Report and Pre-Budget reports by a number of Committees are among the other topics discussed in the report.
The Select Committee on Budgetary Oversight was established to enhance the role of the Oireachtas in scrutinising the budget and to review the macroeconomic and fiscal issues that form part of the budget considerations.
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