Brian Cowen (Laois-Offaly, Fianna Fail)

We want to be fair and honest. At the end of 2007 all economic forecasters in this country were talking about a minimum growth rate for 2008 of 2.5% and a maximum of 4%. So the idea that the economic convulsion, which has now beset the world economy and is affecting every country in the world, advanced economy and leading manufacturing economy in the world, was foreseeable in terms of its impact is not true. By the same token let me say that since the Government came into office on each occasion when it appeared there was a slippage in expenditure——

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