Michael Noonan (Limerick City, Fine Gael)

The Deputies are constantly mixing up two different policy positions and trains of thought. I am stating that for 2012, the marking downwards of the growth rate will not affect our ability to achieve the 8.6% target in respect of our deficit. On the evidence of the figures for the first quarter and in the context of an assessment of nominal growth in the economy, we will still realise that target. If we revise growth figures downward, it is, of course, a reflection that we estimate that less economic activity will take place here. This has an effect on job creation and is a development about which we are disappointed. However, we intend to address any of the causes of this development which may be internal in nature. In so far as the external causes are concerned, we will do our best in Europe to ensure that more demand-led programmes are put in place. I accept that the latter is not the main trend in Europe at present. We cannot influence the situation in the UK, which is one of our biggest customer countries. The US is having an impact because its economy is beginning to grow-----

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