Éamon Ó Cuív (Galway West, Fianna Fail)
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Question 73: To ask the Minister for Finance the maximum Exchequer budget deficit he thinks is prudent for 2012, 2013 and 2014; and if he will make a statement on the matter. [2807/12]

Éamon Ó Cuív (Galway West, Fianna Fail)
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Question 74: To ask the Minister for Finance the maximum Exchequer borrowing requirement he believes is sustainable for the years 2012, 2013 and 2014; and if he will make a statement on the matter. [2808/12]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 73 and 74 together.

Budget 2012 estimated that the Exchequer deficits in the years 2012-2014 would be €18.9 billion, €14.1 billion and €10.2 billion respectively. By contrast, the 2011 Exchequer deficit was €24.9 billion.

It is the case that the global economic and financial environment is subject to a great deal of uncertainty at present and there are a wide range of different factors which could effect revenues and expenditure and thereby these Exchequer deficit estimates. One of the main aims of Government is to restore sustainability to the public finances and consistent with this is to achieve steady reductions in the borrowing requirement of the Exchequer. At this point, I am confident that the respective Exchequer deficits for the years 2012-2014, as forecast in Budget 2012, are both achievable and sustainable.