Liam Twomey (Wexford, Fine Gael) | Oireachtas source

You want to spend like crazy. It is not at the level of what we are talking about or what is being budgeted for. The current position is nowhere near the scenario the Irish Fiscal Advisory Council representatives have referred to. The risk is very low for what they have referred to as the expansionary budget. This economy has come through seven years of austerity and as we often hear, people are well and truly fed up with it. However, there have been improvements and people have repaid vast amounts of debt. Things are stabilising. There are more than 100,000 extra people in the economy. VAT receipts are up because people have more confidence, even those who worked through the recession. They are far more confident about their jobs now. There was a time four or five years ago when everyone was concerned that they might lose their jobs. They did not have the same job security as they have now. Will the representatives of Irish Fiscal Advisory Council comment on that?

Do the Irish Fiscal Advisory Council representatives believe we have an enterprise culture in this country? We have done a great deal in regard to taxation issues, how we promote enterprise and how we encourage people to set up their own businesses. However, there are still huge barriers to making this country an enterprise country. The Irish Fiscal Advisory Council maintains we rely on multinationals. I know from experience the views of people who have tried to set up and grow businesses. They believe this country is not at the races in comparison to other countries when it comes to promoting enterprise and the relevant people valuing the contribution such people make. Will the Irish Fiscal Advisory Council representatives comment on Ireland in comparison with others other countries, such as Germany or the United Kingdom? Those countries do far more to give people a start. Let us consider the bankruptcy issue, for example. The people who go bankrupt are the people who take chances and risks. For years in this country, we more or less told those people that they were out of the market for five years. That is not how an enterprise culture works. People go broke because they take risks. During the Celtic tiger, people took silly and disproportionate risks. However, in a proper country which has a good SME culture, people take risks and they may lose their business but they should be given an opportunity start quickly. Will the Irish Fiscal Advisory Council representatives comment on that?

This is an open economy, so it is expected to be volatile. As a small country on the periphery of Europe with a small population, what else can the economy be, only volatile? No one in this room believes we can have the same sort of economy as others - one for which we can plan ten years hence, for example, between now and 2025. That would be ludicrous given the type of economy we have and how it is expected to work. Can the Irish Fiscal Advisory Council representatives comment on that?

I realise the discussion of short-term, medium-term and long-term projections is important. However, the nature of our economy makes this something that cannot be tied down. The Irish Fiscal Advisory Council representatives have referred to how we have made revisions to what we expect will happen to the economy. I almost see that as a positive thing, something we must do because of the nature of our economy. Even larger economies that are far more developed and stable cannot make the predictions expected by the Irish Fiscal Advisory Council.