Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

The difficulty is the State cannot use taxpayers' money to prop up consumption that is falling or to prop up spending in areas that are declining. There has been a huge shock in this economy with many jobs lost in the construction sector, which has had a huge impact. When it is on its knees financially, the State is not in a position to substitute for that spending in the economy. Therefore we need to try to use the money we have and spend it smartly.

We are trying to leverage up assets in the pensions reserve fund to fund the start-up of new companies in the export and enterprise sectors. That is the strategy. It is the only viable route we can go. We cannot bring back those jobs lost in sectors which grew too large or were unsustainable for different reasons. We must create sustainable jobs. This is what the resources of the State are being used for.

See this speech in context