Dan Boyle (Cork South Central, Green Party)
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Question 180: To ask the Minister for Finance his plans to take measures to reduce the Irish economy's exposure to the housing market; and if he will make a statement on the matter. [32937/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As outlined by my Department in Economic Review and Outlook, published in August 2005, while the outlook for the Irish economy is one of growth, there are significant downside risks which could alter this picture. One of the risks identified is the pace at which new housing output adjusts downwards to more sustainable levels given that sector's importance in terms of real growth in the economy. Developments in the housing market are being closely monitored by my Department. More broadly, in policy terms, I plan to retain a prudent macro-economic approach focused on improving competitiveness and providing economic stability and certainty.