Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

We have been very open and transparent about the limitations of GDP as a measure, as we see it, in respect of contract manufacturing, intellectual property, IP, flows and the role of aircraft leasing. That said, it is the official measure of economic activity in Europe and, indeed, across the developed world. We will, therefore, continue to provide this information, but we will also provide what we regard as a more meaningful measure of economic activity in Ireland by means of GNI* and we are happy, at any time, to explain and engage regarding the logic behind this measure. It is an Irish construct because of the nature of our economy, but it is one we will continue to publish because we believe it is a better, more accurate and a fairer representation of the Irish economy.

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