Shane Ross (Dublin South, Independent) | Oireachtas source

I note the comments the Taoiseach made to Deputy Adams on growth. My question is about the growth figures he quoted because yesterday the International Monetary Fund, IMF, had some telling things to say about the Irish economy, especially the growth figures that are emerging. Indeed, its forecast and that of the Department of Finance are very different. The IMF says growth will be 1.1% next year while the Department of Finance says it will be 1.5%. That is a marked difference. It underlines the fact that the Government, through the Department of Finance, has consistently overestimated the growth figures and growth forecasts. As a result, we have overestimated our ability to repay the debt incurred as a result of the bailout programme.

Yesterday, the IMF urged the Government not to impose austerity cuts in future budgets because the growth figures were so dismal. That is underlined by the figure of 0.2% for the third quarter quoted by the Taoiseach. It is another disappointing figure. Is it not strange that these high priests of austerity and extraordinarily disciplined lenders are standing back in shock at the fact that the Irish Government is continuing to pursue cuts which they say will be damaging to the economy? Is it not strange, even unique, that the lenders in this situation should be less enthusiastic about the repayments and the austerity being imposed on the Irish people than the Government? In view of the attitude of the IMF, which is critical of the Irish Government for being too austere, is the Taoiseach prepared to give a commitment to the House that in the next budget he will at least consider not proceeding with the severe cuts that have been predicted and announced by the Government for future years?

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