Brian Cowen (Laois-Offaly, Fianna Fail)

We must set out challenges and debate these issues in the coming months. Let us do so on the basis that we are trying to come forward with an outcome which gets us through this. The current financial position would not be accepted by anybody taking up the responsibilities we hold. If that is the case, the clear implication is that one cannot maintain this level of spend on the basis of the revenues currently coming forward. What one must do is cut back in some areas. We will come forward again when growth returns. Growth will play its part in bringing forward further revenues into the economy. Certain major structural changes must take place for that to happen.

It is not as simple or as cut and dry as Deputy Ó Caoláin suggested.

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