Building on Reality deficit target
O’Kennedy questioned whether the planned reduction in the current budget deficit to 5% of GNP remained achievable. The Minister said he would address the comparison in response to another question; the Chair then moved to priority questions.
As the Minister has said that the likely outturn represents about 8 per cent of GNP, would he comment on the fact that the minimum step, as it was called in Building on Reality, for next year was to be 5 per cent of GNP in the current budget deficit? Does the Minister now acknowledge that that minimum step will not be realised? Has he any proposals to bring in another Building on Reality, or an illusion as the case may be, in view of the fact that that minimum step is totally out of reach?
Comment on this
As the Deputy knows I will be answering another question in about a minute which deals with that point, namely the comparison of present provisions with Building on Reality. It would be more appropriate to deal with the point then.
