Brian Hayes (Dublin South West, Fine Gael)

Market analysts tell me and others that if a country is serious about reducing the amount of interest it pays on its national debt it must reduce its budget deficit to under 10%. We currently have a budget deficit in the region of 12%, which is the highest in the eurozone. When the Minister publishes the four year plan in November, is it his intention to give us that figure? Is it his view that in order to reduce the punitive charges we are currently paying on our debt we have got to get our deficit below 10% if the package, in its broadest possible light, is to be interpreted by the markets as a serious one? What is the Minister's view on this?

In his reply to Deputy Creighton, the Minister said the Croke Park agreement would have to show more ambitious savings. Can I take it from the Minister's reply that it is the Government's view that the agreement will be renegotiated? If there are to be more ambitious savings we will require a new agreement or an amendment of the existing one. Is that a correct interpretation of what the Minister said earlier?

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