Richard Bruton (Dublin North Central, Fine Gael)

In light of today's figures from the CSO, how does it feel to be the first Minister for Finance in 25 years to have to report a recession to the people? Does the Minister still maintain that the collapse we are experiencing in Ireland has to do with international events when the evidence from the CSO today categorically shows that the fall is far more acute in Ireland than in any other country? As recently as last week, every other country still forecast healthy growth in 2008, but we are now in recession and are heading towards very grim figures.

Does the Government accept responsibility for the fundamental change that has occurred in the model that underpinned the Celtic tiger? That model was based on high export growth, tight management of budget balances, high productivity and high competitiveness. Does the Minister accept responsibility in any shape or form for the horrendous decline in the key figures for all of those areas? They were the hallmarks of the Celtic tiger that brought so much success to the country, but they have been destroyed.

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