Michael Kennedy (Dublin North, Fianna Fail)

The Labour Party had the opportunity to show how big it is and that it recognised the interests of the small people as well as the big. It failed miserably to take that opportunity. Much as we would all like to have seen the fat cats suffer, we need a banking system. America, Britain and all of Europe need a banking system. When the Labour Party has time to reflect on what it has done, it will regret it. The country needed the Labour Party members to stand up and be counted, but they failed to do that.

The budget is tough, but it is the right budget at this time. I hope that in a couple of years, when the global economy picks up, we will be ready to get back on the fast track, create jobs, create wealth, give extra money to our old pensioners and provide good jobs at low tax rates to our citizens.

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