Oireachtas Joint and Select Committees

Thursday, 19 January 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Statement of Strategy 2017: Department of Finance

10:00 am

Mr. Derek Moran:

I will let Mr. McCarthy take this one, but the answer is "Yes". We did factor it in. For example, in the absence of Brexit we would have assumed a growth rate that was higher by 0.5%. We have taken that out and have buffered against it in our assumptions. I will let Mr. McCarthy pick up on this further, but at this point I do not think we will be changing our assumption. It does not mean that if tax revenues and activities soften during the course of the year it will not change but at the moment they still look sound on the basis of that, if one likes, pre-emptive reduction or assumption of an impact of Brexit.