Thomas Byrne (Fianna Fail)
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I apologise on behalf of my colleague, Deputy Michael McGrath, who cannot be present for the entirety of the meeting. The council's assessment, restated today, is that the planned adjustments of €3.1 billion in 2014 and €2 billion in 2015 should not be reduced. Given that we are likely to overshoot the runway, so to speak, by going beyond the 3% target, is there a case for easing up by approximately €500 million to €600 million this year in order to give a boost to consumer spending and confidence in the economy? There appears to be some talk of that and Ministers seem to be rushing to the press with predictions of tax cuts. Do the council members believe it would be a good idea for the Government to do that? Would it benefit the economy?

Professor McHale stated that by 2015 there should be some room for pay increases or tax cuts and increases in social welfare benefits. What would the council opt for in the in the first instance?

My next question relates to capital expenditure. Does the council believe the Government is getting the mix right in regard to current and capital expenditure? The capital budget was underspent last year by €145 million and the consequences are plain to be seen. In County Meath and other counties one can see the roads crumbling which has to do with the fact that this money was not spent. To the end of March 2013 only €387 million was spent on capital projects, which is a very low figure.