Paschal Donohoe (Fine Gael)

I refer to the state of our economy and the new information that has emerged in this regard in recent days, which is at the heart of many of the issues raised, including health and transport funding and so on. The Leader and other Members on the Government side have stated their desire for the Minister for Finance to come to the House soon to discuss these issues. I ask that the debate be brought forward because there has been much trumpeting about the importance of prudence. However, given the scenario we are facing, it would appear the Government has been anything but prudent in how it forecasts for and manages the economy.

I would like three issues, in particular, to be addressed in the debate, the first of which relates to budget forecasting. Last year we had a budgetary surplus of €2 billion and we are now on track for a budgetary deficit of €1 billion, a difference of €3 billion. Last December the Minister for Finance stated we would have a deficit of approximately €500 million. As I have stated, it is now a multiple of that at €1 billion. How have we gone so wrong and in the space of only eight to nine months, how has there been such a significant change in the performance of our economy? How has this only come to light after the general election?

My second point relates to how the Government will respond. It is crucial that whatever measures are taken do not undermine the confidence of people working within our economy already, making a difficult situation worse.

We need to ensure that with whatever moves are taken, expenditure on social programmes is not affected. We cannot have those in our society who are either too young or too old paying a price for this. They must be protected at all costs from any required changes. I would appreciate it if the Leader would ask the Minister to come to the House to answer these questions and give assurances.