Eamon Gilmore (Dún Laoghaire, Labour)

The Taoiseach says the economic outlook now is weaker. Last year the Taoiseach was telling us there would be rapid growth in the Irish economy in 2010. Now he reminds me about the banking issue. I had not forgotten about the banking issue and he has reminded us that this is adding 20% to the problem. The Taoiseach said the cost of the banking crisis would be borne by the sector and assured us we would have to pay nothing for it. The Taoiseach got that wrong by €45 billion or €50 billion. We were given the growth projections last year but the Taoiseach is now saying these are wrong and must be revised. We were given a figure for the budgetary correction over a four-year period and the Taoiseach is now saying this must be significantly increased. Having got it wrong so often, repeatedly and so dramatically, where is the Taoiseach's credibility? He is offering us a process and has arranged for a meeting of the party leaders tomorrow, which I will attend, but he must examine the process he is asking us to engage in. The Government got us into this mess and every prediction and projection made over the past two and half years has been incorrect and dramatically incorrect in most cases. The Taoiseach wants the Opposition to solve the problem for him, he wants the people of the country to pay for it and meanwhile he wants to stay in office. Does he seriously expect us to agree to this?

See this speech in context