Mr. John McCarthy:

Deputy Pearse has tabled many parliamentary questions on the fiscal space. We see it as still €1.8 billion in gross terms of which €600 million is already allocated for demographic factors, leaving a net €1.2 billion in fiscal space. There are then carryover effects and the ballpark is about €500 million on the expenditure side and just under €200 million on the Revenue side. There is a net €500 million. Deputy Doherty asked why we said it was €200 million at the presentation to the pay talks. That was on the current side. The €180 million that is then absorbed by the new pay deal will eat into that. We will produce new estimates of fiscal space in the summer economic statement either next week or the week after.