Brian Cowen (Laois-Offaly, Fianna Fail)

I was making the point to the Deputy that in respect of the gap that has emerged in the public finances, they cannot simply be dealt with by way of expenditure cuts alone, and clearly during the course of this five-year adjustment period there will obviously need to be adjustments to the tax base as well. I cannot anticipate the outcome of the discussions ongoing at the moment, as to what our final position will be on these matters. I was making the general point, obviously, that taxes will be involved in trying to deal with this issue.

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