Richard Bruton (Dublin North Central, Fine Gael)

There is some realisation on the benches opposite that this budget does not deserve a standing ovation. I am not surprised. On 14 October last, when a huge round of applause and a standing ovation greeted the Minister's statement, this is what he said:

The budget I put before you today is our plan of action for economic renewal. It will bring order and stability to our public finances. It will enhance our productive base. It will protect and support those most in need.

As if. The reality in the months since that statement was made is entirely different. The projected borrowing rate has doubled, 130,000 more people have joined the unemployment list, the unemployment rate will have doubled within 12 months of that statement and the economy is on a perilous edge, with the most vulnerable people at greatest risk.

This is a budget in which the people are once again being asked to rescue a failing Government. They hope the Government will wake up to reality and recognise how it has left them savagely exposed. However, today's statement pays not even an ounce of recognition to the calamitous mistakes that have been made by this Government in its handling of the public finances.

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