Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I thank Deputy Catherine Murphy for tabling this motion. Unlike some of the assertions made, the Government is certainly not embarrassed by it. It is timely, right and proper that the Dáil is debating this issue. It has been a useful debate over the past two evenings and I thank Members on all sides for their contributions on this important topic.

At the beginning of the debate last night, the Minister for Finance, Deputy Michael Noonan, called for a reasonable discussion of this issue. Many issues have been raised over these two evenings and, in so doing, several misconceptions have been addressed. It is positive we are all united on one theme, however, that is the need to broaden and deepen the economic recovery taking place across the country, to ensure job creation and a decent standard of living for all citizens.

The incorrect perception that Ireland's debt is mainly due to banking debt must be corrected. The bulk of our debt relates to the mismatch between revenue and expenditure as a result of inappropriate policies adopted during the 2000s. Only one-fifth of our debt relates to banking support.

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