John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

My last question relates to the cyclically adjusted balance, to which I referred. Dr. Donovan referred to Professor Honohan's report. Some 30% of the total tax take was from cyclical taxes, primarily related to property. How is it that the IMF failed to notice that? Can Dr. Donovan elaborate and say whether that has been corrected sufficiently?