Michael McGrath (Cork South Central, Fianna Fail)
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221. To ask the Minister for Finance the overall budget adjustment for 2015 as will be reported to the European Commission; and if he will make a statement on the matter. [40109/14]

Michael Noonan (Limerick City, Fine Gael)
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The adjustment in Budget 2015 included a suite of tax measures with a net cost of around €420 million in 2015.  With regard to voted expenditure, there was a net increase in expenditure of the order €630 million.  These measures were offset by an increase in special dividends of €250 million.  Furthermore, the Deputy should be aware that the second round economic effects of the measures included in the Budget reduce the impact on tax revenues by an estimated €155 million in 2015.

The European Commission is already aware of the details of Budget 2015 because, in accordance with our obligations under the 'Two-Pack' regulations, my Department prepared and submitted Ireland's Draft Budgetary Plan (DBP) to the European Commission on 15 October 2014.  The DBP was also laid before the Oireachtas on 15 October 2014 and it can be found on my Department's website on the following link: .

The DBP sets out the Budget information in a harmonised format set by the European Commission as this assists the Commission with its analysis of the DBPs from all Euro Area Member States that are not in a macroeconomic adjustment programme.