Dáil debates

Thursday, 25 September 2008

Irish Economy: Motion (Resumed)

 

12:00 pm

Photo of Martin ManserghMartin Mansergh (Tipperary South, Fianna Fail)

This action reflects the Government's commitment to provide clear economic leadership and the need to safeguard the gains our country has made by ensuring responsibility and appropriate action in the management of the public finances. The budget will seek to prioritise expenditure in the light of our changed budgetary position. As such, it will give clarity and confidence to investors, taxpayers and citizens and will provide a sound basis for economic recovery when conditions make that possible.

Second, last weekend the deposit guarantee limit in lending institutions was raised to €100,000 to counter speculative pressures about the stability of those institutions and their effect on public confidence. Third, a social partnership agreement has been concluded, although obviously it has yet to be ratified. It has played a crucial role in the past 20 years in our economic performance. If I may reply to Deputy Higgins, there is nothing neo-liberal about social partnership. Were I to define my own economic philosophy, it would be republican-social democratic. The fourth factor has been the introduction of fixed contracts in State infrastructural projects.

Despite the picture being painted, the previous Minister for Finance and current Taoiseach phased out many property incentive schemes. During and before the last election, many other parties were urging on the Government measures that would try to sustain the property boom which clearly was impossible.

I do not have time to refer to the target of public procurement savings of €50 million on which the Government is working to achieve and rationalise.

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