Mary Coughlan (Donegal South West, Fianna Fail)

Meanwhile, Deputy Burton expressed her support for the Government's position on the undesirability of high marginal tax rates by describing them as a nightmare. I welcome her conversion but I note she did not spell out the detail of the third tax rate that has previously featured in her party's policy statements.

While there would appear to be broad agreement that we must correct the public finances, we have heard nothing from the Opposition to assist in stabilising the general Government deficit. The Deputies opposite need to realise that to delay such necessary action can only prolong the agony required to achieve economic recovery. Already, we are borrowing approximately €500 million every week to bridge the gap between expenditure and revenue. This mounting burden translates into larger debt interest payments, which ultimately erodes the Exchequer's discretion on spending decisions.

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