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Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: -----we have had to bail out the banks.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: We have borrowed €25.2-----

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: We have borrowed €25.2 billion to pay interest this year. A total of 9.8% of our income is going to pay interest on the national debt.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: That is €3.2 billion. As our party leader, Deputy Gormley said today, if we take no action by 2013 it will cost €11 billion to service the interest on the national debt.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: That will be 25% to 30% of our taxes. We know we are screwed. We know we are in a precarious financial position.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: I have outlined-----

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: The Minister of State indicated he did not wish to share.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: I will continue, as I have been heckled to be damned. I must say, I love it. I love getting a rollicking from Deputy Bannon.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: In the interests of putting a clear speech on the Dáil record I will try not to invite more heckling.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: We are considering the social welfare cuts. The cut in social welfare is small in the grand scheme because the amount of increases in social welfare in the past 12 years more than compensates for the small cut that has to be made this year.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: I do not like the fact that social welfare has had to be cut.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: I do not like the unfair cuts on the public sector.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: However, they are unfair-----

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: -----because of bankers and speculators-----

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: -----and other people wrecking our economy. However, the fact that the economy is wrecked means it needs to be remedied and there is no way out of remedying it.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: There is no way out of remedying it. The Labour Party has probably missed a digit in its calculations in trying to get €5.1 billion from its proposals.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: I will not even comment on that, mean-spirited as it is.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: The public sector cuts are fundamentally unfair but absolutely necessary. That is the problem. It has to be done. Taking back something one has given to vulnerable people is fundamentally wrong.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: So, if one does not take from the sector that makes up a third of expenditure then one will have to inflict more pain on the public sector and those on middle incomes.

Social Welfare and Pensions (No. 2) Bill 2009: Second Stage (Resumed) (10 Dec 2009)

Paul Gogarty: People are paying a fair whack of money. Unfair as it may be-----

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