Brendan Howlin (Wexford, Labour) | Oireachtas source

The Stability and Growth Pact is binding on us, as it is on every eurozone country, and is designed to ensure fiscal policies are sustainable into the future and prevent economic collapse due to our being profligate at any time in our electoral or economic cycle. The estimates provided in the answer to the parliamentary question are technical and will change and evolve as potential growth rates and GDP become clearer. The negotiation will have to be agreed with the Commission, and the work is ongoing. I agree with the Deputy that we need an economic and social dividend to allay the hardships the Irish people have endured over recent years. Now that we have built economic sustainability, we need the product of it to manifest itself in people's lives. While it will be slow and steady, it will be clear. I have always believed in stimulating the economy, and this is why, two years ago, I introduced a €2.25 billion stimulus programme. Early in the new year, I will bring the new five-year multi-annual capital plan before the Dáil, which will be part of the stimulus that will do the very thing the Deputy has indicated should be done.

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