Donie Cassidy (Fianna Fail)

Senators Fitzgerald, O'Toole, Boyle, Hanafin, Mullen, Ormonde, Callely, Kelly, Walsh, Regan, MacSharry, Bacik, McFadden and Donohoe expressed their views regarding the announcement yesterday by the Taoiseach of plans for the correction of the State's finances. As the House is aware, all day tomorrow will be made available to discuss the matter. I wish to discuss arrangements with the leaders of the groups following the Order of Business this morning to determine the length of time we propose to allow for spokespersons, leaders, Senators and Whips to make their views known to the House in the presence of the Minister. Many opinions were expressed this morning and tomorrow will be an eventful day in the House, because good suggestions should always be taken on board. I support the suggestion from Senator Frances Fitzgerald regarding the new banking regulations being introduced in the USA. We should take the lead here and follow suit. There is enough expertise in the House to give a view on the matter tomorrow when the Minister is present. I ask those with expertise to let the Minister know their views regarding that very worthwhile proposal.

We could get involved in argy bargy and try to score political points, but the state of the nation and future generations depend on the decisions made by legislators at this time. I will not indulge or waste the time of the House this morning in responding to the allegations made. I will only say the people have spoken on three occasions in succession and have placed their confidence in the Government. I was pleased to see the determination of the Government yesterday in the fightback. It was only the beginning of the necessary corrective measures from Dáil Éireann and Seanad Éireann in the coming months and years.

I thank all Senators for their co-operation and support to date in this session. As I explained yesterday, a debate on the economy has taken place in the House every week for the past three weeks, and the debate tomorrow will make this week no exception. It is no pleasure to have to discuss the economy every week the House sits. Be that as it may, that is the duty, responsibility and privilege which the people have placed in the House. We are here to assist the Government, Departments and the people to deal with the necessary corrective measures.