Eamon Scanlon (Fianna Fail)

Fine Gael's announcement that it intends to abandon the payment of benchmarking awards to public service workers, on the grounds that the country cannot afford it, is reckless. Its logic is flawed, given that it promised that it would reimburse Eircom shareholders and compensate taxi drivers, at a massive cost to the taxpayer, if it was elected. Fine Gael Deputies were elected on this mandate. The latest rush of blood to the head proves beyond doubt that Fine Gael has lost the plot. The party announced in January 2002 that, if elected, it would compensate small investors who lost out after purchasing Eircom shares that subsequently decreased in value. It was discovered between the announcement and the general election that the cost of this policy could have been more than €100 million. The combined cost of the deals with the taxi drivers and the Eircom shareholders could have been well in excess of €400 million. This is money that we cannot afford, according to Fine Gael.

I do not think Fine Gael can decide what is best for the economy. Does it prefer benchmarking, which is an incentive for hard-working nurses, teachers and gardaí, or compensating Eircom investors? In its general election manifesto last year, Fine Gael predicted that it would deliver on tax cuts, increase spending on services, fund the national development plan and pay into the national pensions reserve fund. It said that it would start a new general contingency fund and stay in the black as far as Brussels is concerned. I remind the House that I intend to share time with Senator White.