Brian O'Shea (Waterford, Labour)
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Question 95: To ask the Minister for Finance if his Department has carried out an analysis of the implications of the recent interest rate rises and of further expected interest rate increases on small business here; and if he will make a statement on the matter. [10220/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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On Budget Day, my Department projected economic growth of 5.3% in both GDP and GNP terms for this year. Interest rates remain relatively low in historical terms, and the recent increase has not altered the economic outlook. The effect of further rate increases on the economy generally and on small businesses in particular depends on several factors, including developments in our major trading partners and oil price changes etc. Page E.18 of the Stability Programme Update in Budget 2007 discusses these issues in further detail.