Oireachtas Joint and Select Committees
Thursday, 19 June 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Fiscal Assessment Report 2014: Irish Fiscal Advisory Council
3:40 pm
Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source
Regarding the wedge between our GNP and GDP compared to our employment growth, it is said that the disparity is due to the patent cliff. While we had effectively no growth last year, our GNP grew by approximately 3.4%. Nobody has ever done a proper analysis. We appear to get very little credit for it, yet it is probably a better measure of real growth in the Irish economy. Has it been factored into the council's deliberations or does it see it as relevant?
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