Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

For several weeks we have had two stinging assessments of the Government's management of the public finances by the Irish Fiscal Advisory Council and the Economic and Social Research Institute, ESRI. The Minister for Finance is publishing the summer economic statement. The line being bandied about in the media this morning is one of prudence and caution in the face of significant economic challenges and risk. However, that does not tally with what the Taoiseach has been preaching. Six months ago at his party's Ard-Fheis he committed to tax cuts of nearly €3 billion, tax cuts that would not affect 80% of taxpayers in any way. There is no doubt that families are facing a crisis, with living costs increasing all the time, and that the economy is facing significant risk. It is clear that investment is needed, particularly in areas such as housing, healthcare, education and several others.

It is very difficult to do that in light of the election promises the Government is making. IFAC states that the Government's published expenditure estimates are not credible. Does he believe the Government's commitment to cut €3 billion of taxes over the next five years is equally not credible in light of the significant challenges we see and the need to be cautious and prudent? Increasing the tax band by €6,000 every year for the next five years is simply not credible.

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