Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

If I am to analyse it, the construction sector is not seeing a huge increase from last year. In the SME and research and development sectors there is substantial growth, particularly in investment in new plant machinery and so forth, while the figure for the manufacturing sector is going up by 30% to 40%. We are looking at the figure for research and development going up by 11%.

I wish to address the issue of the patent cliff. Officials from the Department of Finance were before the committee last year. It is my opinion that GDP was understated at that point. No one could tell me why, but my instinct told me it was understated and this view is also be held by others. Is there any possibility that GDP was understated last year? Contracted exporting was discussed. Does this mean that in the case of a foreign country there is manufacturing taking place here, the sales from that manufacturing would be regarded as exports from the other country rather than from here? What impact will this have on us into the future?