Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Deputy further asked whether we had been cognisant of the Copenhagen papers and how we had taken account of Brexit. I will make two points in that regard. The best response we can put in place to the period of uncertainty the economy could enter if the Brexit process becomes even more difficult is to increase capital investment across the period. That is what we are doing. We are seeking to increase capital investment next year by one quarter above the current position at the precise point the United Kingdom will be leaving the European Union. That is the appropriate response to something that will pose challenges for the economy. On the question of its affordability, the plan was affordable on the basis of growth figures for next year that have since been increased again on the assumption that it is possible for the United Kingdom and the European Union to reach a transitional agreement. The plan is affordable and is the type of response we should have when an open economy is entering a period of uncertainty.

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