Stephen Donnelly (Wicklow, Independent) | Oireachtas source

The good news, as the Taoiseach will also know, is that according to the Government proposal to the European Commission last April, we are set to exceed the troika target for next year by €1.3 billion or €1.4 billion. The troika target in the memorandum of understanding, which is referenced in all of its quarterly reviews, is for the general Government deficit to be no more than 5.1% of GDP for 2014. The latest figures available to Members of the Dáil show that being exceeded by €1.3 billion or €1.4 billion. In 2012, the plan was to exceed it by €600 million or €700 million. That was updated by another €600 million or €700 million this year. As we all know, the key to our economic recovery is growth. It will drive job creation and, critically, it will help us to outgrow the huge national debts this country is facing. Therefore, I fully agree with the compelling case made by Professor Mody, which is that we should exceed the troika target for 2014 by several hundred million euro, but not by €1.4 billion. Perhaps we could exceed it by €300 million or €400 million, and use the €1 billion that is left to reinvest in economic growth. There are three parts to my question. When I spoke to people in preparation for Leaders' Questions, I was advised to ask the Taoiseach just one question, but I will take a leap of faith and ask a question with three parts.

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