Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

-----it would be less. As we came closer and the figures became clearer, I said that the adjustment would not be much more than €500 million or €600 million. I put that on the record across the floor from the Deputy. In our very last intervention, either in committee or in the House, I went on to say that we would do better than a neutral budget, being €50 million or €100 million above the line.

I will explain to the Deputy in a minute why the figures came so late. The last cut at the budget giving new information was the White Paper on the Friday night before Tuesday's budget. The White Paper pointed out that the deficit, on a no policy change basis, would be 2.7%.