Paul Bradford (Fine Gael)

—but regardless of whether it is a dismal science, economics is certainly not rocket science. The challenge for the country in the years ahead, in an economy without the Celtic tiger, is to ensure that whatever taxes we collect are gathered in the fairest and broadest fashion possible. We will face the challenge of ensuring that public moneys are spent in such a way as to get the best possible value for money. We must also ensure that we have a system of administration at national and local level which delivers. Those are key challenges which must be met.

Money alone will not solve the country's problems. We all bemoan the fact that the Celtic tiger appears to have officially disappeared. This means that the choices and revenue available to the Government are more restricted and limited than heretofore, but, as we have seen in the past five or six years in various sectors – such as education, social welfare and health, in particular – pouring money into trying to solve problems is not always the best solution. While revenue will be down and the Government's options may be fewer, that does not mean that we are facing financial ruin or disaster. It means that, politically, we must face new challenges. We must look for new ways forward and ensure that money is well spent.