Enda Kenny (Mayo, Fine Gael)

The Minister for Finance is preparing the fiscal responsibility Bill. As the Deputy is aware, this was a commitment given by the Government prior to the intergovernmental treaty agreed yesterday in Brussels in respect of legislating for a debt brake.

I should point out to him, as I did to other Members of his party, that the country is in a programme and no decision taken yesterday will interfere with that programme. We hope to be able to emerge from the programme by the end of 2013 and fly on our own rather than requiring to have recourse to further funding. If further funding is required, a country emerging from a programme that is meeting its commitments will continue to receive funding. Far from signing up to an austerity programme for the future, this is a political agreement whereby 25 of the 27 countries have signed up for fiscal responsibility, budgetary discipline, getting the public finances in order and focusing on growth and jobs as a central agenda for growing the economies of Europe and achieving the full potential of the Single Market. The British Government, for its own reasons as explained by its Prime Minister prior to Christmas, did not wish to participate in this intergovernmental agreement and the Prime Minister of the Czech Republic indicated last night that he does not wish to sign for complex constitutional reasons. That leaves 25 of the 27 member states focused on sorting out the economic affairs of Europe and having the potential to grow our economies.

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