Thomas Byrne (Meath East, Fianna Fail)

——is to spend that money as best it can. There will be cuts, as €2 billion must be cut from public expenditure this year. Private Members' motions will be tabled assailing the Government for doing what the Opposition has called on us to do, but in principle rather than practically.

We must maintain our credit rating. Fitch Ratings affirmed it last week but other agencies are keeping it under review. It would be extremely bad for this economy to lose our triple A credit rating and if we lost it the Opposition would table a motion on it. We have maintained it so far.

Yesterday, one of my constituents telephoned me and suggested a bond for economic recovery. I informed her that one can already invest in Government bonds, An Post savings accounts and prize bonds. However, perhaps these are not well publicised and that what is required is to publicise and attract money through a Government bond or a bond for national recovery with a tracker rate below the rate which the Government pays on the international markets. Many people would be prepared to put their savings into such a bond.

See this speech in context