Brian Lenihan Jnr (Dublin West, Fianna Fail)

The international bond markets will make a judgment on the credibility of the financial track we adopt in the next few weeks, which is of fundamental importance to the future of the country.

With regard to the question of employment and growth scenarios, clearly, in drawing up the fiscal plan allowance has to be made for growth but we must start by reflecting on the fact that we saw a substantial collapse in our revenues in 2008 and the gap between our receipts, including all the moneys the State receives, and our expenditure has remained substantial in that period. The annual cost of the bank rescue will be between €1.5 billion and €1.7 billion. That was made clear by me in the House last month. That figure is less than 10% of the gap that has opened up between what we bring in as a State and what it costs to run the country day by day-----

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