Brendan Howlin (Wexford, Labour) | Oireachtas source

We sought a three-year horizon in our negotiations because an annualised horizon would not have been very helpful to us. A three-year horizon was negotiated by my colleague, the Minister for Finance, at ECOFIN and agreed there. I will have to check the exact date for the Deputy. We set out the space we will have for next year in the spring economic statement and we are sticking to that. The space will be of the order of €1.5 billion, which is at the upper end of what we set out in April. The adjustment will be divided equally between expenditure and taxation. Expenditure over the outturn figure for 2015 will be of the order of €750 million.

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