Brian Cowen (Laois-Offaly, Fianna Fail)

It was originally a programme worth €9 billion, based on 4% growth. We will now have a programme worth €8.2 billion based on a contraction in the economy. We could not show a greater commitment to the capital investment programme in current circumstances. The amount to be spent on it would only be increased by €800 million if the economy was growing by a far greater rate. This is a strong commitment by the Government.

Before we made our decisions, there were calls that we should prioritise our spending. The National Development Plan 2006-2013, which is predicated on annual growth in the economy of 4%, will not be implemented within that timeframe. However, we should continue with its implementation, even if over a longer timeframe, because it is the right thing to do for this country.

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