Seanad debates

Tuesday, 25 March 2003

Finance Bill 2003 [ Certified Money Bill ] : Second Stage.

 

On the issue of public expenditure, we still have options. The radical cutbacks which were made this year are not necessary, even though I acknowledge that some cutbacks would be both good and justified. To take the hatchet to public expenditure in the manner in which the Minister has done is not a responsible way to proceed. It is not good to halt the growth in capital expenditure. We know now that the NDP will not be delivered on time. The five NDP motorway projects will not be delivered before 2009 or 2010. This will reduce the competitiveness of the economy and will impose additional costs on industry and the Exchequer. It is regrettable and unnecessary that capital expenditure is not being sustained.

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