Brian Cowen (Laois-Offaly, Fianna Fail)

I point out to the Deputy that the Cabinet meets every week. It is not a question of waiting for a committee meeting to decide what we do on economic policy or respond to economic issues. I can assure him that economic issues dominate any Cabinet meeting because of the scale of the task that faces us and the number of problems that are arising. Let us get away from the idea that a committee meets on 21 May and nothing happens in the meantime. That is not the real world.

Despite the very tight economic situation in which we find ourselves, the Government is still committed to a 5% capital investment programme this year. It does not make up for the reduction in activity in the private sector in toto, but it is a serious commitment by Government at a time of great scarcity of resources and when the taxation base has been reduced by 33% in a very short period of time. With respect, the idea that was being contended by the Deputy's party leader that we could bring forward a recovery strategy in the absence of any change in the income tax system was bereft of any credibility and was seen as such by the public.

See this speech in context