Brian Cowen (Laois-Offaly, Fianna Fail)

As I already noted, I will outline on Thursday the pre-budget outlook in terms of our economic and budgetary forecasts for the next several years. It is clearly the case and it has been widely noted that a drag exists on growth because of the reduction that has occurred in the residential property market over the past number of months. That will be reflected in projections for next year and subsequent years.

In regard to the national development plan, I have always said it is important to maintain the capital programme because that is the way in which the productive capacity of the economy can be expanded. If one looks at the national development plan, one will see an indication of increased investment on the capital programme next year vis-À-vis this year because that is how we have set it out.

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