Dick Roche (Wicklow, Fianna Fail)

Sinn Féin's sole policy is to foment as much public anxiety as possible, to propose tax increases twice the rate of even the Labour Party and cut public expenditure by a fraction of that proposed which every observer suggests is necessary. As we see from the Northern Ireland Assembly, Sinn Féin is paralysed at the prospect of taking any hard economic decisions.

More surprising, however, are the extraordinary differences that exist between Fine Gael and Labour. A recent and very perceptive article in the Irish Independent compared Deputy Gilmore's position to that of the deluded emperor in Hans Christian Andersen's, The Emperor's New Clothes. Members will recall how in that tale the child went up to the royal carriage, looked in and proclaimed, "The Emperor is naked". Deputy Gilmore has no clothes – no coherent policies.

His position exposes a fundamental flaw not only for the Labour Party but for its potential allies in Government. The differences between Fine Gael and Labour on where they stand on issues of fundamental importance to this country are so vast that they are dangerous. They are so dangerous they will undermine the process of national recovery.

On the scale of the adjustment that is needed to bring the public finances under control, Fine Gael claims it should be €6 billion. Its finance spokesperson, Deputy Noonan, said on 10 November, Fine Gael has agreed that €6 billion should be a working target for the scale of the adjustment next year. Deputy Burton, the Labour Party spokesperson, however, took a different view and believes it should be approximately €4.5 billion. She castigated Fine Gael when she said imposing a cut of €6 billion would risk damaging the fabric of the economy. I am not one to argue with this.

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