Brian Cowen (Laois-Offaly, Fianna Fail)

In our manifesto we set out what we expected from a 4.5% rise in growth per year and the spending priorities we would outline. Since then, we had the election and a programme for Government in which we set out the stall of the Government. In the second half of this year we saw a further slow down. The entire programme for Government and all manifesto commitments based on the assumptions set out are based on prudent and efficient management of the economy. If the suggestion is that I am obligated to proceed regardless of present economic circumstances or forecasts and proceeding with spending plans based on 4.5% growth which will not be achieved next year, I do not believe this is a responsible fiscal position to take.

During the course of the election campaign, I outlined what my priorities would be in the event of a slowdown and I note Fine Gael's attempt to continue to run it. Fianna Fáil documentation on jobs and employment which is available on the website confirm the priorities to maintain capital spending under the development plan and to target tax changes towards those most in need. This has always been my position. The budget will outline the Government's spending plans from 2008 to 2010 and what are our priorities in view of the economic circumstances with which we now contend.

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