Brendan Daly (Fianna Fail)

I thank Senator Leyden for affording me time to congratulate the Minister for Finance, Deputy Cowen, and the Minister of State, Deputy Parlon, who is present on his behalf, for the budget presentation. The Government has made a major achievement in that the budget covers a wide range of areas. Whether it might be an election budget, I can recall a budget where the current Opposition parties, with Mr. John Bruton as Minister for Finance, brought down their Government over the issue of taxation on shoes. It is important to remember that while there will be an election in the new year, every budget makes its own impact in the economy. Today's budget will make a major impact in a number of key areas, such as taxation, children's services, mortgages, the environment and other issues, including services for people with disabilities. The budget provided an additional €100 million for people with physical and mental disabilities, which is very welcome.

It is important to consider the budget in an overall context. It was stated in this debate that inflation was not mentioned in the budget and that more long-term attention should be paid to the issues. I remind the Senator who made that reference that the national development plan, which will be published in the new year, sets out the long-term objectives for the economy from 2007 to 2013. While I realise it has not been possible to read the entire budget in the short time since the budget presentation, the booklet presented with the budget contains a detailed analysis of inflation, which is estimated to converge with the average European rates. It is estimated that inflation rates should level off either next year or the year after.

Given any measure on which one wants to examine the budget, whether with regard to inflation rates, national development plans, care for the elderly, the position of those paying high taxes or children, it is a well balanced budget which ensures the benefits of our thriving economy spread down to the areas that need it most. In that regard, it is a welcome budget. I congratulate the Minister and the Minister of State.