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

We have a number of issues, one of which is we would like flexibility in order to make the application of the rules more growth friendly. Let me give the example of relaxing the rules for investments and structural reform in the preventive arm. We have gone through eight years of recession and it is quite clear that during that eight year period the kinds of investment that would normally be made in both social and economic infrastructure were not made in this country. We are playing catch up in investment. As it looks now, we will have a balanced budget ahead of 2018. We will have extra resources when we balance our budget. We would like the flexibility to be able to spend on investment. As long as the possibility of flexibility exists and we can have face to face talks with the Commission, we can be accommodated. It is not that we have specifics in mind, we want flexibility on this and that.

In regard to structural reforms, if we were bringing in measures that cost money to make the labour market more flexible or if we were introducing measures to increase the participation of women in the labour force, we would like the flexibility to be able to do that on the clear understanding that there was a demonstrable payback as the labour force grew and as the fruits of the extra people in the labour force went into the economy.

There are issues but it is not a predetermined checklist but a question of a number of themes we would wish to apply.