Pádraic McCormack (Galway West, Fine Gael)

I thank Deputy Deenihan for sharing his time with me. On my second-last day in the Dáil, I would like to make a small contribution to the debate on the Finance Bill 2011. This is the most unusual week I have experienced in the Oireachtas. We are discussing a finance Bill at a time when the sword of a general election is hanging over those who are contesting the election and those who are not for various reasons. It is a most unusual situation. My party's finance spokesman has outlined Fine Gael's reservations about this legislation. While we are determined to meet the objectives that have been agreed with the IMF and the EU, we would go about it in a different way from the Government. Therefore, we will oppose certain sections of the Bill.

Fine Gael plans to make the necessary budget correction through a combination of capital savings and incentives. We will make greater savings through reductions in expenditure than through tax increases. Every budget adjustment should be scrutinised from a political and an economic point of view. That is how Fine Gael has arrived at its current position. The only reason we are debating this Bill so is that there has been such internal combustion in the Government parties. If that had not happened, we would not have had this opportunity. It is most unusual that we are dealing with this matter in advance of the election that is likely to be held on 25 February. We are in a vacuum while we are waiting for it to take place. The sooner it happens, the better.

I thank my colleagues for giving me an opportunity to make a final contribution to this Dáil. Perhaps I will have second thoughts. I hardly will.

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