Noel Treacy (Galway East, Fianna Fail)

——the Government demonstrated steady leadership, in the context of the worst economic global downturn in 20 years. Despite the irresponsible carping from the Opposition, a short-term course was set that faced the reality that the level of public spending heretofore could not be sustained as less revenue was at the Government's disposal. The Government realised that by controlling spending and targeting it at areas of greatest need, the economy would be best positioned to take maximum advantage of the economic upturn when it happened.

As we now know, the leadership of the Government, as with most things, got it right. Had we folded to the bleating opposite me, the steady path of forward momentum, to which this country has returned, would simply not be happening. It was precisely this assured and capable leadership during more challenging economic conditions that allowed for one of the most generous budgets in living memory and led directly to the Finance Bill we are now debating.

I have been in this House long enough to remember what it was like when the main Opposition parties, Fine Gael and Labour, were last elected to Government. That was a time when the economy was on its knees——

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