Edward Timmins (Wicklow, Fine Gael)

This budget represents the first of five budgets and is step one in the implementation of the programme for Government. It is not possible to deliver everything in year one. Financial changes, as anyone with a grasp the finance knows, happen over a period of time. This is something the public understand, but it is not recognised at all by much of the Opposition. This budget is possible because of the massive taxes we earn due to full employment and because we support multinational industries by above all being pro-business and giving corporations certainty. These multinationals are crucial to all the spending we have discussed over the past two days.

Our Government promotes wealth creation. It is something that much of the Opposition does not recognise or understand. Sinn Féin never once mentioned job creation in its budget day contributions. Without this, there would be no money for our health service, education, pensions or social welfare. We would become a basket case without wealth creation. I understand this, but I feel the need to state it explicitly so that those who do not understand it start to think about it. Many on the Opposition benches think this money will always be there, but it may not be. That is why we must protect jobs and industry. That gives us the wherewithal to fund our services. The reason we have this budget is that it recognises these realities.

Sinn Féin says that we are not spending and taxing enough. The Labour Party says we are spending too much. It is clear we have got the balance just right. The Opposition is fond of selecting one item and saying that our costs are the highest compared to other countries, but by so many measures, we are at the top or close to the top in class. Other countries look on and wish they had our public finances. Our nearest neighbour, the UK, is in danger of going bust while in France they cannot even agree on a budget. We are a beacon of stability and we display a sensible middle ground. Long may this continue.

Many Opposition TDs speak on different issues and take very extreme and radical positions. These comments represent a threat to our successful country. Their aim is to make people feel miserable. That is their policy. Of course we have challenges, but there will always be challenges. In the past, it was employment and the public finances, and we solved these. When it comes to the finances of running a country, in an ideal world, one runs a surplus, reduces national debt, puts money aside each year - €6 billion this year - invests in infrastructure, education and health, and supports the most vulnerable. That is exactly what this budget does.

If I was asked what struck me most forcefully on my first budget day, I would say it was the exaggeration of some of the Opposition spokespersons. It was reported that at People Before Profit's alternative budget launch, the party said it would introduce a €9 billion wealth tax on multinationals. This must be called out for the reckless policy it is.

I referred earlier to the issue of jobs. This is the biggest contribution to taking people out of poverty. This country has been transformed for the better by huge job creation. That huge success has led to the challenge of housing. There is no simple fix to the housing shortage. There are a hundred or more things that can help deliver enough houses. This budget proposes another part of solving this challenge. It is right to use targeted tax measures to help deliver housing. The Government will do everything it can and make all necessary changes to deliver housing. It will be done in a pragmatic way, not in any ideological way.

I will finish by repeating what I said at the beginning. This budget represents the first of five budgets and is step one in the implementation of the programme for Government. It is not possible to deliver everything in year one.

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