Brendan Howlin (Wexford, Labour)

The Deputy is very experienced and I put weight to his suggestions. The trajectory we are on, which we must achieve and which we are determined to achieve, is a 3% deficit by 2015. It is an incremental process and the incremental target we have set is 8.6% next year. The indications were that an adjustment of approximately €3.6 billion would achieve this. Given that there are so many variables, we will have to see later in the year whether this will continue to be the case.

We need to show discipline and take control of our own economic destiny as quickly as we can. The timeframe we have set will be vigorous and difficult and it will be hard on people who are already groaning under the pressures that have been created. The Government knows this full well. It should be explained to people and we should be open with them and explain it is not a folly but a destination to get us back our economic sovereignty so we will be in charge of our own destiny. The Irish people desperately want this.

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