John Deasy (Waterford, Fine Gael)

My constituency is no different from any other in that there is a great deal of uncertainty and many people are afraid. Small business owners insist banks are not releasing credit and that it is impossible to pay off existing debt. The main problem, however, is the extreme lack of confidence out there. More than any time since I entered in politics, people crave leadership and a clear direction.

My constituents are pragmatic and savvy enough to understand the damage that has been done to the economy but they are no longer prepared to tolerate the political double talk and evasion. I received a leaflet in the post the other day, presumably in error. It was an "economic update" from Fianna Fáil, entitled "The Road to Recovery - Ireland is Turning a Corner". It talks about improvements in retail sales, motor sales, exports and foreign direct investment. It was an upbeat assessment of the economic position. When it comes to holding a by-election in Waterford, or anywhere else for that matter, the reason given for not holding it is that we are in no position economically to consider any by-election. Effectively, Fianna Fáil is speaking out of both sides of its mouth, and has been for some time.

We all understand the real reason there will not be a by-election or an election to the mayoralty of Dublin any time soon. Fianna Fáil would be lucky to get 15% of votes in the capital, an assessment that comes from Fianna Fáil's own Deputies. One of them told me last week that was an optimistic forecast and that, if that happened, it would spell serious problems for the Fianna Fáil leadership. This is down to the naked reality of political survival and absolutely nothing else.

We will wait for the general election in Waterford. I have been given the job of winning two seats there, which I have taken on. I take nothing for granted - it will be difficult - but in the meantime, when it comes to the Government giving its reasons for not holding the Waterford by-election, I would appreciate one thing, that the Government would stop insulting the intelligence of my constituents. They know what the score is and understand why these by-elections are not taking place.

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