Brendan Howlin (Wexford, Labour)

There is a lot of wisdom in what the Deputy said. The target we have to achieve next year is 8.6% of GDP. The problem is we have not quantified exactly the level of adjustment, both in term of expenditure reductions and taxation measures, that will get us to that. We cannot do that until we see, later in the year, the outturn figures from the State revenue and get a clear picture on the growth projections for next year.

I am inclined to agree with the Deputy. Forensically, nobody in this House is in a better position than me to know the consequences of cuts following the process I have been involved in over the past number of weeks. There is no pain-free measure that can be taken. We must get the balance right. The over-arching imperative for the Government is to achieve a deficit of no greater than 8.6% of GDP next year.

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