Larry Butler (Fianna Fail)

This budget is a corrective measure and is part of the solution. We must see it in the European context. Our bubble has burst in terms of the construction industry but when we look at countries such as Germany whose bubble was not in that industry we see that it must now examine the bubble burst in its economy, namely, the car industry. Today General Motors looked for a major bail-out from the Government in the United States. Although we are not in great shape on this island, the situation is global and we are dealing with it in our own way.

The budget has taken corrective measures that have hurt everybody. Let us be honest about that and admit it has hurt people across the spectrum. Everybody is playing a part in this. We spoke about working together and this is an example of how we can do that. It has cost everybody and those who can afford to pay more are paying more. That is fair. I commend the Minister of State for what has been done in this regard and I also thank those Opposition spokespersons who see the necessity for this budget. We look forward to the new legislation coming before the House and I shall have more to say then about the housing sector, which I consider to be most important. It contains a good package on housing.