Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

Clearly, prudence is a desirable virtue when dealing with public expenditure. I agree with the Minister that the trick is to invest sufficiently and to kick-start growth so that we move from a vicious cycle of austerity to a virtuous cycle of investment and return, socially and for the Exchequer in terms of tax returns. The Minister said a conversation was ongoing between the Department of Finance and the European Commission. What is the Minister’s understanding of the expenditure benchmark? Does he regard it as a binding rule or a general guideline? I could not agree more that a one-size-fits-all approach would be bad news for Ireland. I suggest that the Minister take the latter interpretation that this is a guideline rather than a binding imposition on the State. Is this the Minister's view?

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