Brian Lenihan Jnr (Dublin West, Fianna Fail)

I have arranged for the Deputy to meet with myself and an official today so that information, insofar as it can be provided, will be provided. I am prepared to engage with him on a political basis regarding matters which cannot be disclosed by my officials. I cannot go beyond that at this stage. I received the Deputy's letter earlier this week, I have been considering it and have arranged a meeting. I will endeavour to meet him and the Labour Party spokesperson, from whom I received a letter date 23 March today, on the same basis. That is as far as I can progress this matter.

The Deputy mentioned in the House the day before yesterday the fact that in his estimation the structural deficit accounted for approximately 8% of the total borrowing requirement this year and that was the position in January. My Department is revising that estimate. None of these calculations stand still, as the Deputy, who is an economist, well knows. The calculations made in December are not relevant in April. The commitments made in the addendum in early January were based on a December analysis which, in light of the economic deterioration and the worsening economic conditions, no longer holds for today.

The science of economics is much like the science of meteorology. One is predicting future weather patterns. The patterns have changed since the addendum for growth was produced. Even this morning the disclosure that there was substantial economic decline in the latter part of last years changes our assessment of a number of positions, as the Deputy is well aware. I am willing to discuss these matters with him and I am also willing to provide from within my Department the information which will enable him to make choices and options. I am prepared to discuss any choices or options he wishes to put to me.

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