Peter Power (Limerick East, Fianna Fail)

That has brought huge benefits to our economy but it also carries huge risks. The key question is how we react and how we position ourselves. History has shown that we must learn from the lessons of the past. If we shirk difficult decisions, they will become more difficult to take and more painful for our citizens. Painful though they are now they would become infinitely more painful in the years to come. That is why we have made our choices. It behoves the Opposition to say how it will achieve its stated policy position of a 5.5% Government deficit next year. No member of the Opposition has stated in his or her contribution what he or she would do to reach the 5.5% rate.

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