Michael Mulcahy (Dublin South Central, Fianna Fail)

I wish to share time with Deputy Kelleher.

As the Title signifies, this is emergency legislation and it is deliberately drafted in this way because it is accepted by all parties that were things normal, such a Bill would not be required. If we begin from that base, we can acquire a better grasp and understanding of what the State needs to do. As the Taoiseach has made clear, the Government will have spending responsibilities this year amounting to approximately €55 billion while tax revenue is projected to be €37 million, which is an unsustainable gap. I am sorry if the Labour Party, in particular, and Fine Gael, to a lesser extent, cannot appreciate that this is a serious position for the State.

It is the job of Opposition parties to oppose and we would do no differently, but if we were in opposition, bearing in mind what has happened, we would be a little more responsible. Over the past few weeks, every Opposition party has engaged in a concerted attempt to talk down the State and undermine confidence in the business community.

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