Enda Kenny (Mayo, Fine Gael)
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Question 74: To ask the Minister for Finance if he will report on his recent meeting in Dublin with the European Commissioner, Olli Rehn; and if he will make a statement on the matter. [43748/10]

Eamon Gilmore (Dún Laoghaire, Labour)
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Question 290: To ask the Minister for Finance if he will make a statement on his meeting in Dublin on 9 November 2010 with EU Commissioner, Ollie Rehn [45170/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 74 and 290 together.

It is now over two months since the meeting to which the Deputies refer took place and there have been very substantial developments during that period. However, the purpose of Commissioner Rehn's visit at the start of November was to gather information and exchange views. To that end, the Commissioner not only met with myself, but also met with Opposition parties, as well as representatives from both employer and union groups.

In terms of my own meeting with Commissioner Rehn, the meeting was a continuation of the very positive relationship that we have. Commissioner Rehn and I discussed the Government's economic growth strategy, fiscal consolidation plans and matters relating to banking and financial market developments. In particular, I briefed the Commissioner on the development of the Government's four-year National Recovery Plan and the manner in which the upcoming Budget 2011 would fit into that multi-annual strategy. In that regard, we were in agreement on the need for a comprehensive plan to return sustainability to the public finances. In particular, Commissioner Rehn agreed that it was essential that the budgetary strategy was front-loaded and that a €6 billion adjustment was the appropriate target for Budget 2011.

As the Deputies are aware, the Government subsequently published the National Recovery Plan 2011-2014, which was welcomed by the European Commission. The Plan sets out the measures that will be taken with a view to bringing the deficit back below 3 per cent of GDP by 2014. Budget 2011 represents the first step in the implementation of that programme and, taking account of the €6 billion adjustment package, projects a General Government deficit of 9.4 per cent of GDP by the end of this year. In this regard, it is positive to note that the end of year figures that my Department reported on last week, showed the public finances being marginally better than had been planned for in 2010.

The National Recovery Plan also identifies the areas of economic activity which will provide growth and employment in the recovery and specifies the reforms the Government will implement to accelerate growth in key sectors of the economy and these matters were also discussed when I met the Commissioner.

In the context of the agreed EU/IMF programme of external assistance, the various policy measures that have been set out as requiring action draw on the suite of measures that the Government set out in the National Recovery Plan 2011-2014 when it was published in November 2010.