Brian Cowen (Laois-Offaly, Fianna Fail)

I have explained to the Deputy that the basis upon which that decision has been taken is a result of the assessment by the Government based on advice from the Department of Finance and its consultations with international organisations, as well as views from the Central Bank, etc. The level of adjustment required is based on an average growth rate of 2.75% of GDP as a realistic figure upon which one could project increased output in the economy over the period. Working back from that, the adjustment from taxation, expenditure or the impact of growth is calculated in getting the deficit figure back to 3% of GDP in 2014.

I am thankful that all the main Opposition parties have indicated a commitment to getting a figure of a 3% deficit by 2014. This debate affords us an opportunity to translate, if we like, how we can go about making those adjustments for that commitment which we estimate to be in the order of €15 billion between now and 2014. The four-year plan will outline in detail that position.

The final assessment on growth next year, as well as some other issues being raised by the Deputy, will depend on final Government decisions on the component years and the movement to that figure over the period. That can have its own impact.

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