Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

I have read the document in considerable part and, as I said in the reply, it is based on a number of assumptions. It is up to people to read it and evaluate them. They are assuming an immediate devaluation in Northern Ireland which would mean a reduction in the average value of wages within the Northern Ireland economy. There are issues around that. It assumes the immediate harmonisation of taxes, North and South. It assumes that the Republic of Ireland would take up a considerable part of the deficit within the Northern Irish economy that is currently supported by the UK and a whole lot of other assumptions about the way in which the economies would converge and how this would evolve. As an economic exercise, it is a very valuable contribution to the discussion. It shows the opportunity for significant gains but it does not call for action by me, as the Deputy suggested. It is an evaluation, it is an economic modelling exercise and it is a very valuable contribution.

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