Michael McGrath (Cork South Central, Fianna Fail)

If I interpret the Minister correctly, he is saying the percentage deficit must be achieved and that, therefore, will determine the exact monetary amount of the adjustment to be introduced in the budget for 2012. If there is slippage in economic growth figures during the remainder of this year, that figure of €3.6 may increase significantly if we are still to come within the deficit of 8.6% of GDP for 2012. Is that a fair summary of what the Minister is saying?

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