Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

What is the witness's view of the IMF's recent statement that the negative multiplier effect on the economy is three times worse than it and the Department believed? We have €8.6 billion in cuts to make over the next three years and the IMF has indicated if growth is 1% less than projected - it may be worse than that - there will be another €1 billion per year in required cuts. If the multiplier is 1.5 and not 0.5, as expected, there will be a €15 billion hit to the economy over the period of the adjustment. What is Mr. Moran's opinion of the scenario suggested by the IMF? The Irish Fiscal Advisory Council has stated an extra €1 billion in cuts will be required per year over the next three years if we are 1% off on the growth projections, which the witness has admitted must be downgraded.