Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

What we have signalled so far is that on a no-policy-change basis, taking into account the expenditure framework that we have set out for 2021, we would be looking at a deficit of the order of 5%. That is before any new decisions we take on budget day. As Deputies are aware, we are also considering a recovery fund and considering making additional funding available next year that we can deploy to respond to the evolving needs of the economy through 2021.

Tomorrow night the White Paper will be published setting out the projection for the current year updated on a no-policy-change basis and then, in effect, what the projection will be for next year. Essentially, this would cover the position were we not to have a budget at all or not do anything. I am signalling that would be of the order of 5%, but that is before we make any new decisions in the context of budget 2021, and I have signalled that there will be some new decisions.