Brian Cowen (Laois-Offaly, Fianna Fail)

I do not know what further stimulus package the Deputy can have in mind, given that we have a deficit of 10.75%. There is a capital budget of €6.5 billion, as I have repeatedly explained, for this year, which will support many tens of thousands of jobs. Indeed, €1.2 billion is being provided for maintaining and protecting existing jobs and providing training for those who are, unfortunately, out of work. A very significant investment is being made by the Government, but the idea that a further stimulus package could be introduced that would extend the deficit is simply not a viable proposition.

As regards the bank job losses, I have outlined my regret that this has happened. It relates to the withdrawal from the market by this company in respect of some of its activities. A redundancy package will obviously be offered to the employees, but it is important to emphasise, based on the considerable losses we have seen in the banking system, that there have been job casualties there, as with other sectors of the economy, where losses have been incurred.

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