Brian Cowen (Laois-Offaly, Fianna Fail)

That issue arises as a result of the economic and financial crisis that is affecting every country, including this one, which has its own particular problems. It is also clear that it is the view of the Labour Party that it does not wish to adhere to the terms and conditions upon which money will be available to this country after July to provide for the services, about which we are all speaking and want to protect to the greatest extent possible in the current circumstances. It is basically saying that it would not abide by those and that it would put at risk the ability and the necessity of those funds, more than €50 billion over the next three years, to provide the necessary time and space for this economy, which we have stabilised this year. I reiterate that the budgetary targets we set ourselves last year in a difficult situation have been adhered to, as will be outlined by the Minister in his remarks today. Our revenues are up €0.5 billion more than the €31 million we projected, our expenditure is under control based on what we said we would spend during the year and that, having stabilised the situation, we now have the prospects of growth. It was also contended by the Deputy that there would be 50,000 or 60,000 more people unemployed than there currently are as a result of the policies we have been pursuing. That is not correct.

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