Kieran O'Donnell (Limerick East, Fine Gael)

It is time for fair play. The Minister also said that Opposition Deputies were clamouring about Government expenditure over the past number of years. Criticisms have been made about money wasted on PPARS, e-voting machines and e-government. Millions of euro have been squandered on systems that are not even functioning.

During the good years, the Government should have set up a sinking fund, similar to those adopted by fund management companies. The National Pension Reserve Fund will be raided to the tune of €4.5 billion to recapitalise the banks while approximately €3 billion of taxpayers' money will be borrowed to fund the balance. Meanwhile, a punitive measure will be introduced for the low paid in the public sector who will not receive a return, which is grossly unfair.

The Minister needs to outline his five-year economic plan. People need a road map because we are currently subject to government by fits and starts. When proposals are made, they have to be reviewed and amended. The pension levy should be reformed. Fine Gael put forward tough but fair measures, including a pay freeze in the public sector and the provision of generic rather than branded drugs, which would save €200 million.

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