Economic certainty crucial in a changing world – Donohoe

Fine Gael candidate for Dublin Central and Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe, today (Tuesday) said that in an ever-changing world, the need to ensure our economic model is protected and that our numbers add up has never been more pressing. This is not the case with the Fianna Fáil manifesto, the calculations for which leave a lot to be desired.

Minister Donohoe said: “A close examination of the Fianna Fáil manifesto throws up a number of questions that simply cannot be ignored. The costing of the document, which is probably best described as sparse at very best, has figures inflated by as much as €5.2bn, with no credible explanation given.

“The Party has done this through the inclusion of €3bn which they say can be achieved from tax compliance measures. To put this in context, Budget 2025 made provision for a yield of €70m for the same thing. The question has to be asked, what new policies will yield this additional revenue? Is the extra compliance on individuals or companies? If it is in respect of individuals, then people need to be informed of upcoming changes. If it’s companies, then this will mean an additional reliance on corporation tax receipts, with no justification for how that will be achieved.

“In addition to this, they cite a figure of €2.2bn in respect of tax buoyancy. Where did this estimate come from? What tax heads will produce this buoyancy? Is this a further reliance on corporation tax receipts, and if not, then what other tax head is providing such a significant windfall?

“We are living in a changing world, where the threat of further tariffs on our economy are real. Now is the time to ensure that the basis for our economic model is underpinned by solid figures. That does not seem to be the case here. If there is an explanation of where and how this additional €5.2bn will materialise, we need to hear about it. I’m calling on Fianna Fáil to make the details of these assumptions known”.