Seanad debates
Tuesday, 17 December 2002
National Development Finance Agency Bill, 2002: Second Stage.
The experience in Ireland of borrowing for capital purposes has, in fact, been positive. We have got into serious difficulty on occasion, not least between 1977 and 1981, when we borrowed extensively for current purposes. Most of our borrowing, however, for infrastructural investment has been quite positive. Evaluations carried out for EU co-financed projects indicate we got good value for money. My party does not, therefore, share the Minister's and the Government's aversion to borrowing and we have no difficulty with borrowing for the delivery of NDP projects into the future.
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