Brian Lenihan Jnr (Dublin West, Fianna Fail)

The national development plan shows that the Government is determined to enhance the productive capacity and productivity of this economy and to restore and improve our international competitiveness. The national development plan provides a robust, multiannual financial investment framework to underpin this endeavour. The Government is determined to prioritise and deliver those investments under the national development plan which promises the best long-term economic return for Ireland.

The public can be reassured of the Governments determination to see us through and to take the sensible and balanced action needed to keep the fiscal position in good order. That is a very important part of the strategy for Ireland in the years ahead.

Irrespective of this or that EU rule, we cannot, for sound budgetary reasons, allow current spending to out-distance current revenue. We must deal with current spending and not borrow on the never-never. That path leads to unsustainable borrowing, less room for manoeuvre, lower growth and a heavier tax burden. Those opposite know this only too well as all those things happened during their extensive period in power in the 1980s.

See this speech in context