David Cullinane (Waterford, Sinn Fein) | Oireachtas source

Yes, but the Minister entirely misses the point because the economy is growing. GDP growth is evidence of a growing economy. This does not just concern expenditure: we also tabled a similar question on income. The total amount of income the State takes in as a percentage of GDP year-on-year for the next five years is going down. The total amount of spend as a percentage of GDP is going down year-on-year also.

This means we are taking in less and we are spending less as a percentage of the overall economy. That is the reality. These figures are the basis for budgetary plans, which flies in the face of what the Taoiseach is saying in correspondence to President Juncker. It also flies in the face of what many organisations are quite rightly calling for, namely, more capital investment as a percentage of GDP. That is how the European Union measures capital investment. We have one of the lowest levels of capital investment in the European Union. I agree that it might marginally improve because of the additional money being spent. The Minister is correct that, in terms of what was being spent in previous years, additional money is now being spent. However, as a percentage of GDP, because the economy is growing, it is actually less, which is the point the Minister is missing.

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