Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

I thank the officials of the Department of Finance for being very helpful. As the question was whether the general Government debt is sustainable, one definition of sustainable is that it would be capable of being continued with minimal long-term effect. Would the Minister agree that by this measure the debt certainly is not sustainable?

The Medium-Term Fiscal Statement the Minister mentioned identifies as being primarily responsible for the debt the collapse in revenues and significant increase in cyclical unemployment and debt servicing related expenditure arising from the sharp contraction in economic activities and the substantial level of State support provided to the banking sector. With growth in the economy next year revised downwards by the Department, with recession unfortunately beckoning in Europe and with unemployment continuing at inordinately high levels, is it the case that the devastating austerity that has been imposed on the Irish people with a gun to their head by the troika and the European Union establishment institutions militates against recovery and points to a scenario where the State simply cannot afford this debt?

What are the interest payments this year and next year? I have seen an estimate for next year ranging between €7 billion and €9 billion per annum, and perhaps the Minister could clarify that.

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