Brian Lenihan Jnr (Dublin West, Fianna Fail)

I examined Fine Gael's proposals in this regard. I provided access to my Department before the budget and I am glad Deputy Bruton used that facility. Many of the Fine Gael proposals replicate the Government document, Building Ireland's Smart Economy, which was published last December. Almost none of the programmes proposed by Deputy Bruton in his party's document is new.

However, I welcome the fact that Fine Gael acknowledges and supports the Government's positive initiatives in that area, such as smart metering in every home by 2013, electrical vehicles, the national grid as a smart grid, microgeneration, renewable energy and the extension of broadband. A number of initiatives being taken by the Government are very much in line with what Fine Gael is proposing. I welcome the fact that these were in that party's document.

There are serious questions about the sustainability of some of the investment Fine Gael proposes, including the use of the bulk of the national pension reserve and increasing borrowing significantly, whether on or off balance sheet, at a time when the State already has a substantial borrowing requirement. I question the wisdom of setting up four new commercial State bodies when the Government is intent on rationalising State agencies. I am also concerned that some of the proposals are to be funded by selling off public assets when their prices are so depressed. That said, I acknowledge that many of the ideas Deputy Bruton is putting forward are part of mainstream Government policy.

See this speech in context