Brian Cowen (Laois-Offaly, Fianna Fail)

There must be a sustainable public finance position. Former Ministers for Finance know that. There is no point in playing around with that matter. We must take these decisions.

Of course we will provide hope, but on the basis of taking necessary decisions now and next year. The country will be then in a position to take off again when the international demand improves, as is predicted by international commentators. There is not an easy way through this. There is only a difficult way. We will take whatever steps we can to help people who find themselves in difficulties. The prerequisite for economic recovery is to get our public finances in order and that means making cuts in spending and raising taxes. It has meant examining other areas where we must consider taxation and where we will have to cut further spending. It will involve further reforms. We need the agreement of many people working in the public sector and other sectors to help us get through this problem. That is why we are talking to the social partners at present. We have to manage our way through this crisis, but each time the Labour Party, particularly, or the Fine Gael Party come forward with proposals there is always an easier and a handier way out.

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