Marc MacSharry (Fianna Fail)

The budget will look after the most vulnerable. The 8.4% increase in social welfare spending is welcome. I also welcome the fact that we will maintain capital investment to ensure we continue to build momentum in our capital projects. It is important that we do so strategically, focusing on projects that will increase our marketability in terms of foreign direct investment and assist the development of indigenous enterprise and industry and on public transportation, thereby making a significant contribution.

Next year, overall expenditure will be almost €57 billion, a 3.6% increase to ensure that we improve services in education, health, social welfare and so on. These are large figures at a time when all of us agree we are in unprecedented circumstances.

It is vital that we all shoulder burdens proportionate to our means. The budget has sought to provide for such in a fair and balanced way. There is no easy way to take tough decisions. Politics is not about popularity — it is about leadership. At a difficult time like this, leadership requires difficult decisions. In the presentation of this budget, the Minister, Deputy Brian Lenihan, the Taoiseach, the Minister of State, Deputy Mansergh, and their ministerial colleagues have proved they are prepared to take the necessary steps to ensure we are on the right road to recovery. However, it is but a step.

Given international circumstances, the banking scheme and the budget are welcome as steps in the right direction, but further steps are necessary. The Government has shown that it is prepared to take them. I look forward to it. We must maintain our ability to move and react quickly if we are to come out the other side of these difficult economic times.