Following real GDP growth of about 1.6% in the UK in 2002, recovery to 2.5% is anticipated next year. Real GDP growth in United States is expected to reach 2.3% this year and next. Fundamental to the growth of our economy is the recognition that foreign direct investment comes primarily from the US. In the past three to four years, approximately 30% of all green field foreign investment into Europe has come to Ireland. That is an astonishing figure. Having regard to the difficulties in the US economy and the consequent drop in foreign direct investment – this year's figures are not yet to hand but I assume there will be a considerable reduction on the previous average – one can see the hazards and difficulties with which the Minister for Finance must contend. We have to take cognisance of the significant slowing down in our economy.