Michael Noonan has suggested there could be less 'fiscal space' available in the next Budget, partly because of Donald Trump.

The finance minister has told the Dáil that the current state of the world means there is a "downward risk" on the money available to spend.

But he says the model that calculates fiscal space has many moving parts, and it's not possible to revise it every week.

He says it will be next year before a new calculation can figure out what impact Trump's election might have.

"It's not possible to have a recalculation of fiscal space because President Trump is elected," Noonan said this evening, just as it would not be possible "every time the exchange rate with sterling goes up or down".

"At present it looks as if the Fiscal Space available... the risks are on the downside, towards the reduction of fiscal space, but things can change very rapidly.

"We'll see, when we're recalculating in the springtime, where we're at."