Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

As it was introduced on a four year basis, if it was to continue, further provision would have to be made for it. I think the Deputy suggested a figure of 2%, but the latest figures I have suggest a further reduction of 1% of GDP would be the equivalent of €1.75 billion. If we went from below 3% of GDP to below 2%, a further reduction of €1.75 billion would have to be made. It is a big chunk of money.

The Deputy asked what was meant by a "neutral budget". It means an opening position where receipts match expenditure on the basis of there being no policy change.

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