Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

It is precisely because of the scale of debt we have that the Government has made the decision, as we are gaining money back from our banking system through the sale of a quarter of AIB, for example, to put the money back into reducing our national debt. Being in a position where our national debt grows in an unsustainable way is a threat not only to future generations but also to the current one.

On the Deputy's question regarding the time over which we are paying back our debt, the proportion of our debt that is maturing for longer than five years is approximately 30%. The proportion in Belgium is 40%, the proportion in France is 50%, and that in Italy is also 50%. Therefore, we are seeking to pay back our debt over a longer period. Balancing our books is the most significant day-to-day contribution we can make to stabilise the debt and continue to reduce it.

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