Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 143: To ask the Tánaiste and Minister for Finance his views on the fact that the ESRI has revised downward its growth forecast for 2008 in its latest quarterly economic commentary, from GNP growth in 2008 of 3.7% in the June 2007 commentary to 2.9% in its latest commentary issued at the end of September 2007. [23655/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I have noted the revision of the 2008 growth forecast by the ESRI in their latest quarterly economic commentary. A reduction in new housing output is the main factor behind their revised growth forecast. However, there are a wide range of economic forecasts for 2008, and not all have as pessimistic an outlook as the ESRI. For example, the Central Bank's growth forecast for 2008 is higher, at 31⁄2% and 31⁄4% in GDP and GNP terms respectively. I will publish revised growth forecasts covering the period 2007-2010 and beyond in the Pre-Budget Outlook which I will lay before the House later this week.