P J Sheehan (Cork South West, Fine Gael)

We are discussing a vital interest to our nation's economic prosperity which has been ruined because of the reckless policies of the party opposite which has once again brought this country to its knees with a begging bowl out to our neighbours.

I was first elected to this House in June 1981 and immediately on entering it as a Government backbencher, we faced an economic crisis as a result of the most corrupt political document ever produced, the 1977 Fianna Fáil Party general election manifesto. Fine Gael, the Labour Party and even the former party, Democratic Left, have a proud history of putting the nation's interests before the political interests of their parties, often to their political cost. However, that will not stop us from again giving our best to sort out the economic well-being of all our people to rebuild a strong independent nation in the European family. We have done so four times in the past four decades and we are willing and able to do so again.

Fine Gael has always put the truth before spin. Fianna Fáil has always put out spin instead of the truth. A friend once described it to me as follows. There is the right way, the wrong way and the Fianna Fáil way. In other words, even when the truth jumps up and bites it, it blames all those around it, including the Opposition, the media, Lehman Brothers, the credit crisis and conspiracies. It is now blaming the euro crisis. Has one ever heard a word from one of them saying they had made a mistake?

Fine Gael has led the Governments which have rescued this country in the 1970s, 1980s and 1990s by turning around the economy from a crisis to a very healthy position on leaving office. The 1973-77 Government led by Liam Cosgrave had to take tough measures to restore our economic well-being. They were fair measures and by the election of 1977, the economy had been turned around and was on a steady upward trend. We then had the irresponsible actions of Fianna Fáil in a desperate grab for power. It produced the famous 1977 general election manifesto for which we have all been paying since. There was no rates on houses or tax on cars.

When the Fine Gael Government, led by Dr. Garrett FitzGerald, came to power in June 1981, Fianna Fáil had once again recklessly brought the economy close to the brink with the IMF almost knocking on the door on that occasion. Along with its coalition partner, Fine Gael set about creating a path to economic recovery to create employment and sustainable growth. Fianna Fáil fought against every proposal tooth and nail.

By 1987 the economy had been returned to a healthy economic position with positive growth rates, increasing employment and reducing unemployment. It took Fianna Fáil two years to again bring the country to its knees.

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