Enda Kenny (Mayo, Fine Gael)

The Green Party Ministers are again absent this morning. I raised the issue of economic performance with the Taoiseach a month ago. On that occasion, the response was the situation was being monitored and that there would be no changing course. Yesterday's figures clearly demonstrate that there is a problem. This is disturbing news that needs to be looked at seriously by the Government.

Figures show that taxes are down by 8% on the same period in 2007 and that spending is up by 14% over the same period. On closer examination, which is even more serious and of greater concern, one can see that this is clearly no longer confined to the construction sector. VAT receipts are down, as are capital gains tax and corporation tax profits. This has now leaked out into the broader economy.

If this is not corrected or confidence in the economy is not restored by mid-year, there will be a knee-jerk reaction from Government. Does the Taoiseach recognise that the economy is not on the trajectory as proposed and outlined by the Minister for Finance two months ago? What is now happening amounts to the worst deterioration of the economy in the history of the State.

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