David Cullinane (Waterford, Sinn Fein) | Oireachtas source

The Minister is using GNP figures, not GDP ones. Leaving that aside, however, the reality is that figures do not lie. The total amount of money the State will spend as a percentage of GDP is 24.1% this year and 22% to 2021. In a letter to Jean-Claude Juncker, An Taoiseach, Deputy Enda Kenny, said that public investment in Ireland currently stands at just 1.8% of GDP. That is the lowest level in Ireland for many years. His letter went on to talk about the need for flexibilities.

The OECD, Tasc, IBEC and ICTU are all calling for greater State investment. The figures in the summer economic statement are included in these calculations. The reply to my parliamentary question builds in the so-called extra public spend to which the Government is committed. Even with that, the amount of money we spend every year is declining as a percentage of GDP and that is because of tax policies. It is building in tax cuts the Government will plan over the next five years. That flies in the face of a need for greater capital investment.

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