Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I disagree to an extent with Mr. Hearne on one point. Regarding capital projects, we have a choice. We can decide to not do them, in which case the country loses because we are behind in terms of badly-needed infrastructure. The obvious thing to do in this respect in this context is to not undertake them but that would damage the country in the long run. Therefore, we have a need to urgently review activities in respect of the creation of inflation, which will mean that we can fund those vital areas of development we will need for a long time to come and do so on a basis that is acceptable to international bankers and that meets the trends and guidelines of our European colleagues, as opposed to ignoring everything and hoping it will all be all right at the end of the day.

I say that because I remember full well the questions I used to table alone in the run-up to what is now referred to in some quarters as the crash and in other quarters as something that it was unnecessary to have to pay the price of. Unfortunately, however, when a crash takes place, everybody pays the price, the rich and poor all together, in the form of the big lumps of money that are sunk in the middle of it. People are victims at all levels of society. We must be very careful now in this regard.

I would like to continue all day, as is my wont. On this occasion, I will not do so to enable the business to move on. We have done our examination. Undoubtedly, other Departments and other committees will have other examinations and I am sure the witnesses will have a great time explaining to people how they come to the various conclusions. I am also sure that the various Departments they have assessed will be happy to see the next report produced as well, whenever that will be. I thank Mr. Hearne and Ms O’Loughlin for being with us. I was going to say that I was not sure where Ms Mura went to, but she is right here. She did not say anything or address the committee, but we will take it as read. I thank all the members for their participation and all our guests. Our next select committee meeting, on 29 June, will deal with double taxation agreements with the Minister for Finance, Deputy Donohoe.