Billy Kelleher (Cork North Central, Fianna Fail)

It is important to deal in facts when speaking about important issues. No Government or employer takes lightly the need to reduce the wages and salaries of its employees. However, in the context of where we are and with the budget deficit we were faced with, it was critically important, first and foremost, to stabilise the public finances. It has been suggested that this budget was aimed at bond markets and that it was an economists' budget to satisfy those people who lend us money. The harsh reality, however, is that Ireland's international reputation is of critical importance to the country on several fronts. First, we are borrowing huge sums of money and if our international reputation is damaged-----

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