Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

What we have been doing - Deputy Howlin had a part in the first half of this - is fixing an economy to ensure it is fit for purpose and we do not create bubbles in any of its sectors. We have been warned by many independent economists this year not to overspend or allow Ireland to fall back into a cycle of boom and bust, which, unfortunately, has happened repeatedly in recent Irish history. We will not overspend money or borrow just because we are allowed to do so under EU fiscal rules. Ireland is now in control of its own destiny again. The Government will borrow a modest amount of money next year. We will ensure we put a rainy day fund aside which will be built up over time. We will not put too much money into the fund in any one year and our primary focus will be on investing in parts of the economy that need capital investment in particular. That is the prudent course of action and Deputy Howlin, as a former Minister for Finance, should understand that.

See this speech in context