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Leaders' Questions (2 Jul 2008)

Brian Cowen: I am glad to report that last year the economy grew by 6% in GDP terms and over 4% in GNP terms——

Leaders' Questions (2 Jul 2008)

Brian Cowen: ——which was during my time in office as Minister for Finance.

Leaders' Questions (2 Jul 2008)

Brian Cowen: The situation that is being portrayed by the Leader of the Opposition that these are the worst figures ever — I do not agree with that characterisation — fails to take into account the context that being an open economy we are affected by the international downturn the same as everyone else. We are in a far better position——

Leaders' Questions (2 Jul 2008)

Brian Cowen: If people will continue to talk down this economy to the point of hoping the prophecy comes true——

Leaders' Questions (2 Jul 2008)

Brian Cowen: That is their purpose. That is not a responsible position to take.

Leaders' Questions (2 Jul 2008)

Brian Cowen: We in this economy have the ability to weather this storm better than ever before.

Leaders' Questions (2 Jul 2008)

Brian Cowen: We are in a position to do so because our overall public finance position has greatly improved since we have had ten of the last 11 budgets in surplus. When one meets a downturn, as we are meeting it, the ability to accommodate that through deficit is possible but we must work within our framework. We must recognise that our responsibility during the course of the remainder of this year is...

Leaders' Questions (2 Jul 2008)

Brian Cowen: I explained yesterday that I stand over the budgetary positions I took during my time as Minister for Finance——

Leaders' Questions (2 Jul 2008)

Brian Cowen: ——as a member of this Government, consistently. There have been growth rates during those three years which have exceeded any other economy in Europe.

Leaders' Questions (2 Jul 2008)

Brian Cowen: Deputy Kenny's portrayal of this economy as having been dysfunctional during my tenure is incorrect. The second point——

Leaders' Questions (2 Jul 2008)

Brian Cowen: I will answer the question now because Deputy Kenny made many assertions. He made many nonsensical assertions that need to be corrected.

Leaders' Questions (2 Jul 2008)

Brian Cowen: Deputy Kenny spoke about us cleaning up a mess. Compared to the term in office in the past when they doubled the debt, we have halved the debt.

Leaders' Questions (2 Jul 2008)

Brian Cowen: We have halved the debt. During the time of halving the debt we have seen unprecedented capital investment which has built up this economy. We have created a quarter of the total number of jobs created ever in the past ten years.

Leaders' Questions (2 Jul 2008)

Brian Cowen: Those are the facts. On this suggestion——

Leaders' Questions (2 Jul 2008)

Brian Cowen: ——which is Deputy Kenny's problem, that this boom has been squandered——

Leaders' Questions (2 Jul 2008)

Brian Cowen: ——we have 2.2 million people working in this economy. I accept there is rising unemployment and there will be some more unemployment, but the fact of the matter is that the ESRI, which Deputy Kenny quotes selectively, also makes the point that the continuing investment that we are making in the capital programme is the right choice——

Leaders' Questions (2 Jul 2008)

Brian Cowen: ——that it builds up the capacity of the economy, and that the work that we have done in that area is the correct way of going forward, in terms of investment in science and technology and innovation, the national skills strategy, Transport 21, etc.

Leaders' Questions (2 Jul 2008)

Brian Cowen: That all has been good work that Deputy Kenny tries to denigrate.

Leaders' Questions (2 Jul 2008)

Brian Cowen: That strategy is entirely correct.

Leaders' Questions (2 Jul 2008)

Brian Cowen: The Deputy can do all the shouting he likes now. That strategy has proven correct for this economy. In fact, the budget stance we have taken this year——

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