Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The Minister was just about to get to the important part. He has restated what was said publicly, that is, a broadly neutral budget will be sufficient to bring the deficit below 3% of GDP in 2015, which is to be welcomed. As he indicated, statistical reclassification has had an important impact on the opening position, but I can only speak for Fianna Fáil when I say that, as we try to finalise proposals, it is unfortunate that reform of the budgetary process has not happened and that the White Paper on Receipts and Expenditure, setting out the opening position for budget 2015, is to be published only at midnight on the Friday before the budget. Will the Minister elaborate on what he means when he refers to "a broadly neutral budget"? Does it take account of anticipated savings from the early repayment of International Monetary fund loans? Does it take account of the expected €300 million to be raised from domestic water charges? Will the Minister give the House information beyond what is already in the public domain? What is meant by "a broadly neutral budget" and will it lower the deficit to a little under or well under 3% of GDP?

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