Brendan Howlin (Wexford, Labour) | Oireachtas source

I asked about next year's budget. In the programme for Government, we were promised a new budgetary architecture. How can there be consultation or an agreement in respect of next year's budget if its parameters are determined without consultation with anybody?

It was always envisaged that there would be a review of capital spend next year. The figures set out by the Taoiseach are very parsimonious in terms of the capacity of the economy to deal with real infrastructural deficits in a way that drives further job creation.

In relation to the rainy day fund, the difference between gross and net debt is approximately 10% of GDP. We have notionally bank shares and so on that we will be able to sell, which means a sum of money will be available to the State to invest if we wish. Surely it makes more sense to set up an ambitious capital programme for the next few years to address issues like broadband and the third level deficit and to make a significant spend in terms of education, finishing our road network and investing in health care and child care facilities. Would that not be the wise way to invest money, rather than talking about some rainy day fund?

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