Richard Bruton (Dublin North Central, Fine Gael)

I thank the Minister for his reply. If the Minister proceeds with a cut in spending of €1 billion next year, over the years 2009-11 he will have taken almost €9 billion out of capital spending. It will reduce spending by almost one third compared to what was projected in the capital budget. We know from the ERSI that the impact of that would be the equivalent of 90,000 jobs in the construction sector. When everyone in the country is saving to try to reduce their excessive debts, is it not a mistake for the State to slash its investment programme? Should we be using this opportunity to invest in assets with sound returns? I do not want to market Fine Gael's new era project. Does the Minister agree that vital arteries, such as the electricity and broadband systems, need to be brought up to 21st century standards? How can we have a strategy for economic recovery which is solely built on retrenchment in capital budgets when we need investment to begin?

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