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

Based on the papers published and the analysis we have done, the answer, which is subject to a number of assumptions, is that the Deputy is broadly correct. The issue is what happens to the assumptions. The assumptions in the paper in question assume that investment levels will be stable in our economy. The question is whether the assumption relating to the decisions made, their impact on the global economy and the ability of American companies to invest elsewhere will hold in the time ahead. The second assumption in the paper relates to the fact that we could not at that point identify the impact of sectoral-specific measures and what that impact might do to individual companies or groups of companies in our economy. I have been making the point that on the basis of what we know, we are moving into a scenario of lower growth and lower employment growth. However, I have been equally clear that there are other scenarios that could effect that. This is why, in the time ahead, it is critical that we look at how we can negotiate with the US to see if we can avoid the darker and more damaging scenarios coming to pass.

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