Marc MacSharry (Fianna Fail)

No. When debates such as this take place, it is perhaps the nature of the Opposition — as was the case when Senator Twomey was speaking — to accuse the Government of all these things. It seems to be a common mantra when debates on the budget, the economy and all matters financial take place. I feel, therefore, compelled to point out our mantra in that context, which the facts back up. No Administration in the history of the State has done more than the consecutive Fianna Fáil-led Administrations to deal with the issues Senator Twomey mentioned, such as reducing the tax burden on all people — the less well off and the well off — taking the lower paid and those on the minimum wage out of the tax net, investing in our infrastructure through consecutive national development plans and starting a process of regulatory reform.

I know Senator Quinn would share my views on regulatory reform in that much more needs to be done in this regard. I am cognisant of the point he made recently about the University of Jerusalem's findings that Ireland is 49th out of 50 countries in terms of over-regulation. That is a challenge of which the Government must be cognisant as it plans for the future. In regard to the points made by Senator Twomey, no Administration in the history of the State has contributed more financially, legislatively and practically through the State agencies, to improve this nation than consecutive Fianna Fáil-led Administrations.

There is no doubt, however, that the international economic environment has changed substantially. There has been a move towards more sustainable levels of house building here. The property market needed to correct itself and I suggest it began to do so approximately a year too late. We have seen substantial slowdowns and an increase in the live register, most notably in February. We have noticed that even in County Sligo. Notwithstanding that, unemployment levels remain extremely low and we are the envy of most other countries, with close to a full employment scenario. However, there are concerns and we must keep a close eye on how matters develop.

The Finance Bill 2008 is based on sound fiscal policies which, as the Minister outlined, are to encourage economic growth while at the same time promoting care of the environment and protecting the less well off in society. In regard to care of the environment, Senator Twomey said we should engage in some type of gimmickry and that Ministers should pay for the miles they drive while working on behalf of the State. Such talk is ridiculous in the extreme. Much of the ministerial fleet has moved to hybrid Lexus-type cars which make a contribution.