Budgetary Oversight Committee plays positive role in Budget 2018 – Madigan

Fine Gael Dublin Rathdown TD and Chair of the Oireachtas Committee on Budgetary Oversight, Josepha Madigan, has said she is pleased to see that Minister Donohoe has taken the Committee’s recommendations on board for Budget 2018.

Fine Gael Dublin Rathdown TD and Chair of the Oireachtas Committee on Budgetary Oversight, Josepha Madigan, has said she is pleased to see that Minister Donohoe has taken the Committee’s recommendations on board for Budget 2018.

“Budget 2018 marks an important point in our country’s history. This Budget is the second in the lifetime of this Government and the first under the leadership of An Taoiseach, Leo Varadkar.

“I was particularly privileged to contribute to the budgetary process this year as Chair of the Oireachtas Committee on Budgetary Oversight. We presented our pre-budget report to Minister Donohoe last week and I am pleased to see that he has taken our recommendations on board. Consulting the Oireachtas in this way in advance of the Budget is good for democracy.

“It is very positive in particular that the Government has begun to address Ireland’s high marginal tax rate which places us out of sync with international best practice, as highlighted in our pre-Budget report.

“Budget 2018’s emphasis on capital investment, particularly in housing, positively conforms to our report’s recommendations. The very significant housing Budget for 2018 of €1.83 billion for housing will go a long way towards resolving the housing issues we are dealing with since the economic crash. We are already seeing results with a real emphasis on increasing supply of housing over the last couple of years.

“I was very pleased to hear Minister Donohoe highlight the role of gender budgeting through future budgetary processes. This will go a long way to ensuring the equality of all, regardless of gender.“The Committee on Budgetary Oversight has played a positive role in increasing parliamentary engagement with the Budget process and I look forward to continuing the strong work of the Committee and engaging effectively in future budgets.

“One particular issue I wish to progress in the future is on Local Property Tax. I have been heartened by An Taoiseach’s recent comments regarding avoiding major hikes in the tax. Although the issue has not been addressed in this Budget, I hope that the Government makes strides in the near future towards reducing the property tax burden on areas like Dublin Rathdown, where we have high and rapidly rising property values.

“This is an issue that I intend to scrutinise in detail through the Committee on Budgetary Oversight and it needs to be addressed in advance of 2019 to avoid punitive tax increases for many homeowners”.

“Budget 2018 will consolidate Ireland’s fiscal position, maintaining strong, sustainable economic growth while steering the economic recovery towards delivering for all.“Despite the limited fiscal space, Budget 2018 delivers three key achievements. For the first time in a decade we have broadly balanced our national finances. Significant extra funds have been earmarked for capital investment, which will help unlock our future potential as a nation, giving people increased opportunities to reach their full potential. And finally the modest but sustainable increases in welfare payments and tax reductions will mean that everyone will have a little bit extra in their pocket next year.”