Derek Nolan (Galway West, Labour) | Oireachtas source

I heard the Deputy berating the Government by saying we needed to start focusing on job creation and investment. The Government announced the first part of a €2.25 billion stimulus package a few months ago. That fund will be spent in the next few years to build hospitals and schools, put money into the economy and create jobs. This practical plan will have tangible benefits.

The Deputy said the Bill was undemocratic because it gave powers to the European Union. I remind him that the rules set out in the Bill were agreed to by the public in the referendum last May. If he is annoyed that they were approved by the people, that is his right. However, it is nonsense to say it is undemocratic for us to implement legislation that was sanctioned by 60% of those who voted in a referendum. Such nonsense has been coming from representatives of Sinn Féin for a very long time. They argued during last year's general election campaign that the country did not need the IMF, the European Union or the ECB. They said we would be fine because we were perfectly capable of supporting the economy on our own. They were very quick to change that message after the election when it was no longer politically or economically tenable. Frankly, they could not stand over that position. Before the last budget, they waved their alternative budget around in this Chamber and said there was another way. Recent close analysis of Sinn Féin's wealth tax proposal showed that it was based on reports that were out of date, including an inaccurate Merrill Lynch report. It is an absolute fantasy.

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