Martin Mansergh (Fianna Fail)

I welcome the Minister for Finance and his officials.

I beg leave to doubt whether the Fine Gael Party actually believes tax credits should be indexed. Whenever it is in Government again, I doubt it will implement such a practice. It is essential for the Minister for Finance to have a degree of flexibility. At times, it may be possible for him to do much more than indexing. At others, it may be appropriate not to index at all and to concentrate, as in this year, on the minimum wage when resources are limited. This recommendation would be contrary to all principles of good public finance management. It is essential that the Minister's hands are not tied. No Fine Gael Minister for Finance would wish to have his or her hands tied in such a manner.