Fiscal Policy

Dáil Éireann Debate, Wednesday - 29 September 2010

Wednesday, 29 September 2010

Ceisteanna (355)

Joe McHugh

Ceist:

439 Deputy Joe McHugh asked the Minister for Finance if official discussion with the office of the Stormont Minister for Finance and the British Chancellor of the Exchequer is part of his Department’s preparation for Budget 2011; if he will comment on Budget 2011 preparations in the context of the 2006 Comprehensive Study on the All-Island Economy, Stand II of Good Friday Agreement; if he will acknowledge that this Bilateral Agreement prioritises and notes the following: taxation is an important factor in economic competitiveness; intervention to generate an improved regulatory environment including fiscal measures, achieving the right balance between competitive taxes and adequate provision of public goods is a challenge faced by both Governments, companies should be encouraged to redesign logistical strategies and treat Ireland as one commercial zone rather than two separate entities. [32247/10]

Freagraí scríofa

Minister for Finance (Deputy Brian Lenihan)

As the Deputy is aware, the Minister for Finance and Personnel in Northern Ireland Sammy Wilson and I have met on a number of occasions, usually on the margins of the North South Ministerial Council (NSMC) Plenary and SEUPB Sectoral meetings. We have discussed matters of mutual interest, including NAMA and the significant economic and public finance challenges facing both jurisdictions.

The NSMC meets regularly in Plenary and SEUPB Sectoral formats with the next Plenary and the SEUPB Sectoral scheduled for end November/December (dates to be confirmed).

In addition, the Government is in regular contact with its British counterparts including the Prime Minister and Chancellor of the Exchequer.

The Irish Government is fully committed to restoring order to the public finances and is actively examining the next phase of its consolidation framework in the context of the ongoing Budget preparations. My Department will publish the Pre-Budget Outlook next month, which will provide an update on the economic and fiscal outlook. Budget 2011 will be presented to the Dáil on Tuesday, 7th December.

The Irish Government, of course, remains strongly committed to practical and mutual beneficial North/South cooperation and we continue to explore ways to advance our common interests.