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

There is a debate and this is proposed by many European countries. If we harmonise the methodology, it could get a result. I do not think anything will happen in time to change the parameters of the 2017 budget, but I would be hopeful for 2018. There are many views now about how structural deficits should be calculated. There is an emerging opinion that if we just dealt with nominal deficits rather than structural deficits we might get closer to what the actual business cycle is and what the fiscal cycle is. I think there will be changes but not in time for the 2017 budget.