13. Deputy Naoise Ó Cearúil asked the Tánaiste and Minister for Finance the way in which the findings of the 'Future Forty' report will shape Ireland’s fiscal policy in the coming years, with particular reference to demographic change and global trends; and if he will make a statement on the matter. [64370/25]

Sentiment score: 0.01

In September, the Tánaiste's predecessor published the Future Forty report. In what way will the findings of this report shape Ireland's fiscal policy in the coming years, particularly when it comes to demographic change and global trends? I am sure the Tánaiste is aware that a quarter of the population by 2060 will be over the age of 65, the Tánaiste and myself included, believe it or not. That will have a significant impact on State finances.

Sentiment score: 0.13

Go raibh maith again, a Thánaiste. While I said in jest we will both be retired by 2060, you never know. The main thing to bear in mind is that a quarter of the population will be at retirement age. That is going to have a significant impact on pensions and healthcare. Measures have been taken already - auto-enrolment will begin in the new year, which needs to be acknowledged. It is a crucial step to ensuring the future fiscal security of a lot of people, going into old age. However, there will be revenue challenges, particularly when it comes to our reliance on corporate tax receipts. There could be a vulnerability in this regard so we need to consider broadening the tax base. This will be quite difficult, as we all acknowledge. If we are to take the document as a strategic one on how we are going to manage the economy, we will have to make painful decisions in the short term that will benefit society in the long term.

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I thank the Tánaiste. I appreciate all that. The report contains measures we could take to achieve productivity gains. There are elements we could really tap into when it comes to digitalisation, in particular, and the likes of artificial intelligence, AI. There need to be guardrails for AI and that is why the national AI office is being established. There needs to be a proper and comprehensive examination of AI, which the Oireachtas joint committee and other bodies are doing, but we need to start considering ways to increase productivity significantly and take some of the drudgery out of administrative tasks. These could apply to the likes of waiting lists for surgeries and normal administrative tasks in various Departments. This is where we could start to see immediate and long-term economic benefits.

Sentiment score: 0.39