Brian Cowen (Laois-Offaly, Fianna Fail)

We will manage the nation's monetary affairs in the context of our programme for Government, which is seeking to achieve broad budgetary balance. Clearly in the event of the anticipated growth rates not being achieved we will need to adapt to that situation, otherwise we would not achieve broad budgetary balance. The questions tabled asked what revised expenditure Estimates etc. I would provide at this stage. I am making the point that I do not believe we should dismantle in the course of this year the expenditure targets we have set. Obviously we will try to live within them. However, rather than having a rapid deceleration this year, I believe my budgetary stance has been correct. Over the period we need to consider reductions of current day-to-day expenditure more in balance with available resources in the interests——

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