Bernard Durkan (Kildare North, Fine Gael)

I will take up my colleague's points on tolling and VRT about which a dangerous trend has become established for many years. One should not forget that, at present, motorists contribute approximately €5 billion annually to the Exchequer. In exchange, they are clamped if they park anywhere and must pay a toll to drive from one county or town to another. Moreover, as my colleague also pointed out, those who drive eco-friendly cars have been penalised for so doing. Strange things have happened over the years and while the current Minister was not specifically responsible, they form part of the trend.

I wish to refer briefly to a subject with which the Minister is fully familiar. In common with many others, I am worried about the economy's competitiveness at present. This issue has not arisen in the past six months but has been present for more than five years. I understand the Government's relative contentment with inflation, particularly house price inflation, because it receives more money in VAT, stamp duty and every which way.

Although it has been suggested that 100% lending was the cause of the problem, lending at 150% and, in some cases, 200% was the cause. In some developments, house prices were inflated by up to €80,000 per unit in the space of a weekend. This constitutes serious inflation and no action was taken to deal with it. Consequently, many people have been obliged to pay mortgages well in excess of what they could command. This is not a new development and has happened before. It has happened in the United Kingdom and in the United States and there is no point in blaming either for our problems. We contributed to our own problems in a serious manner. Why were rules not introduced in respect of credit control? This would have been a simple matter, particularly at a time when interests rates were low.

My colleague across the floor is making signals. I am unsure whether he wants to know the time or is anxious to get home.

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