Oireachtas Joint and Select Committees
Wednesday, 21 January 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Annual Growth Survey 2015, Alert Mechanism Report 2015 and An Investment Plan for Europe: Discussion
2:30 pm
Mr. John McCarthy:
No, it was retrospectively included in the figures. The Deputy might recall that there was much discussion last July, when the Central Statistics Office, CSO, introduced methodological changes. It focused on black economy type activity. That was quite small. The big methodological change was the capitalisation of research and development spending. Overall, it increased the level of investment by approximately €10 billion, and approximately €8 billion or €9 billion was due to research and development. However, it was included retrospectively. I believe it fell slightly last year, but it is very volatile on a year to year basis.
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