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

Perhaps the Deputy would allow me to continue. On the question regarding the varying forecasts made last year about fiscal space up to the Friday night prior to the budget, what I am saying is that we are not adjusting the fiscal space arising from the new information because we have not got an awful lot to contribute yet with certainty. The first readjustment of the forecast on fiscal space will be made around mid-June in the context of the summer economic statement. I hope that a faster growing economy than anticipated will feed into an increase in fiscal space but the growing economy is only one element of the many moving parts that make up fiscal space. All I can say is that the adjustment will probably be positive but it will not be dramatic. I can say that with a reasonable amount of certainty at this point. In terms of planning to spend, it will be plus but it will be marginal. There are others issues involved.

There are other bills that have accrued since the start of this year and the announcement of the budget. The Deputy will recall that to ensure we had industrial peace in the country the payment date for the tranche of the Lansdowne Road agreement which was due next September was brought forward to 1 April this year at a cost of €120 million, which was not included in the budgetary figures. The Minister for Public Expenditure and Reform has indicated that he can carry that within the global allocations already in place.