Oireachtas Joint and Select Committees

Tuesday, 23 January 2024

Joint Oireachtas Committee on Climate Action

Large Energy Users Rebalancing Subvention: Discussion

Photo of Richard BrutonRichard Bruton (Dublin Bay North, Fine Gael)
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I was not in government at that time 15 years ago, but I do recall unemployment had grown by nearly 200,000. Ireland had massively lost its export market share and these manufacturing companies were the key to a recovery. Borrowing levels were unsustainable at 14% of GDP. The Government could not find resources to do the sort of things it would like to do to promote employment. At the time, Sinn Féin was advocating default on our loans. That is the reality of the situation that the then Government was facing in 2009.