Noel Harrington (Cork South West, Fine Gael)

I welcome the opportunity to speak on the Finance Bill 2012. The country's economic problems arose because of the reckless behaviour of the previous three Governments. From 1997, Fianna Fáil and its different partners tried to go in opposite directions, which was disastrous for the country. The tax base was lowered to an unsustainable level while rising expenditure reached an equally unsustainable level. It became like two different pressures on an elastic band which eventually had to snap in the middle. The State was bankrupted and its people are now mortgaged for decades to come. Fianna Fáil has nothing else to offer except political horse-trading. There has not even been an apology or an excuse from Fianna Fáil Members except their mantra that everyone else is to blame bar them.

Previous Fianna Fáil Governments built Tower of Babel like monuments in the property sector. When the sector needed to cool its jets, the Fianna Fáil Governments put on the burners. A fundamental principle in economics is when the economy is going well, one cools it down and when it is going poorly, it needs a stimulus. Ireland is now caught in between where it can do neither.

Be that as it may, we have to face some of the most critical decisions in our nation's history of which this budget is part. These are difficult times for all of us and we have to make many hard decisions if we are to rebuild our country and again make it the place it deserves to be in which to live and work.

I have listened to some of the contributions from the Opposition benches, particularly from the left-wing Deputies who will condemn and oppose every measure.

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