Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

There are estimates generated in Brussels that would be at the higher end of the range. These are rejected and refuted by the UK authorities. Where it will land, I could not even guess at this stage.

On the new methodology, as advised by the committee on Irish statistics, the intention is not to change the statistical base for our international calculations, as with the EU budget. The idea is that there will be a set of numbers with statistical aberrations taken out so foreign direct investors, the markets or colleague countries that trade with us will have a more realistic insight into the reality of the Irish economy rather than looking at GDP figures which, while they are real under the calculations required by EUROSTAT, we all agree do not reflect real economic activity in the country.

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