Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

Let me put the Deputy's points into context. It is important to remember that the CSO is independent and has commented on its figures and some processes it intends to examine further. We regularly discuss the independence of bodies in the House when they report on various issues. The CSO is an independent body that reports on figures.

The GDP figures released were affected by exceptional factors, which shows the complexity and difficulty of interpreting Irish macroeconomic data. Further work needs to be done on the interpretation of those figures. As a small economy, changes made by very large multinationals can have a dramatic affect on our headline statistics. As those statistics were one-off and exceptional in nature, we will not make economic policy on that basis. We will set policy on the basis of the more normal growth rates, such as those projected by the Department of Finance, in the region of 3.5% to 4%.

The Deputy used the word "slash". Nothing is being slashed. The Deputy mentioned home care and services for children. There is increased investment in every single area. We cannot deal overnight with some of the demands that exist, whether in the health services or other areas, but ongoing and detailed investment is now happening given the growth rates in the economy. More jobs are being announced almost every day. Of course the recovery has not reached everyone in the country, but let us reflect on the fact that the macroeconomic figures are good for the country. Despite the challenge of Brexit and other potential shocks, if we can keep that going the investment will continue.

The EU budget for 2017 has not been finalised. The European Commission presented a draft EU budget for 2017 in late June, but negotiations will continue until mid-November. The Minister confirmed the figure that may be owed, but all member states, including Ireland, benefit from the programmes funded through the EU budget. Ireland has been a net beneficiary in the order of more than €40 billion from the EU over the years.

The summer economic statement sets the fiscal space. The available resources for 2017 are about €1 billion. That position remains the same, as it is fixed each spring. All EU member states do this in order that planning can begin for the budget without having to wait for the most up-to-date figures.

In terms of planning for services, they will not be impacted by the situation in which we find ourselves based on the CSO figures, which were exceptional. There is ongoing economic growth. There are improvements in the taxes that are being collected. We stick by the fiscal space that is available for investment in services and reductions in tax.

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