Kieran O'Donnell (Limerick City, Fine Gael)
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I welcome Professor McHale and his colleagues and thank them for the valuable work they do. The Irish Fiscal Advisory Council has adjusted its assessment of the likelihood of Ireland's breaching the 3% deficit ceiling from one in three to one in two. The November Exchequer returns released yesterday show that we are more than €500 million ahead of target in terms of taxes. The witnesses referred to various different risks and constraints they have identified in various areas. Have they had time to reflect on their report in the context of the latest data? Was the decision to amend the risk ratio a unanimous one among the members of the council? I would appreciate a general flavour of their thinking in this regard. It would be helpful to distil it down into practical terms which can be appreciated by ordinary people.