Michael McGrath (Cork South Central, Fianna Fail)

While we have tended to focus on the picture in 2012 because we can look at that with the highest degree of certainty, the forecasts beyond that, for 2013 of 2.4% and 2014 of 3% and our medium-term outlook are very much dependent on those rates being achieved. The Minister's medium term fiscal statement lays out clearly that if there is 1% slippage in that, our debt-to-GDP will peak at 123% and if there is 2% slippage, our debt-to-GDP will reach 133%. At what point will we begin to look at the potential for change to the growth rates beyond this year? Will that be reviewed in April with the stability programme update?

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