Brendan Ryan (Labour)

Most of what is in the document has been implemented. Is this going to happen? The problem with the budget is that it has no heart because it does not reflect an understanding of the human problems in society and no head because it talks nonsense about sustaining a competitive position with the worst infrastructure in Europe.

Investment in infrastructure must be judged in this context. One should read the national competitiveness report about the appalling state of our railways and the poor state of road transport. Dublin is the slowest city in Europe for delivery times. What are we going to do about this? We are going to wait until the economy improves. Common sense economics, as practised throughout the civilised small countries of Europe for the last 20 years, have been based on the fact that, when an economy is in slowdown, expenditure is stabilised by practical, sensible borrowing. Not only will the Government not do this, but it is borrowing money to fund a pension fund that will not apply for 20 years. It is also borrowing money to continue funding a daft savings scheme introduced to meet a one-off concern about inflation. Over €2 billion a year is being committed to these schemes.