Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Yes, it would be a medium-term forecast that would begin to take effect from 2019 onwards because, at that point, the negotiations will have to be well concluded, one way or the other. We have not factored a very bad resolution of those negotiations into our gross forecasts. We have factored in a hard Brexit of some kind happening. This has suggested a loss of 0.75% gross, which is a very large figure. That would have a substantial effect on the resources available to the country in the coming years. If, as we move through this process, we have reason to believe that the consequences will be even worse than that, we will have to change the figures. They will be medium-term figures, however, rather than figures that will affect this year or next year.