Brendan Ryan (Labour)

I welcome a number of measures in the budget, particularly the recognition that the rich were paying no taxes. Until recently the Government's position was "let them at it, let them rip" but after a few electoral rebuffs it rediscovered its concern for equity in the tax system. That is most welcome. I recognise the delicate sensitivities of the super-rich when they hear it will be some time in January 2007 before they feel the pain of tax. That is not the timescale applied to other people when some of the lesser benefits are being cut back.

I am also intrigued by the announcement of the number of schemes in the construction area which have turned out not to be worthwhile. Is it true that for the past seven or eight years nobody in the Department of Finance examined the internal rate of return and economic benefit to the State from a raft of programmes which are now to be abolished? Is it the case that they were in place for a few years to look after the buddies——