Eugene Regan (Fine Gael)

The Government announced late last year or at the beginning of this year that €7.5 billion was the adjustment needed in the public finances between 2011 and 2014. The IMF has adjusted that figure upwards and there are further adjustments given the lack of pick-up in economic growth. What this signifies is the wrong moves made at every turn by the Government on economic policy, where delays in taking decisions have stultified growth and depressed market conditions.

I welcome the co-operation which is taking place between the political parties. Given the crisis we are in, normal opposition politics is not on. It is incumbent on all parties to take their responsibilities and share in the policy formation that is necessary to get us out of this economic crisis.

The consensus which is emerging, and which I imagine will be on the broad parameters as distinct from the detail, is to be greatly welcomed. We know we have a national crisis and it is important from our point of view to play our part in the national interest. That said, I do not want the Government parties to think this is giving them political cover. There will be no net benefit to Fianna Fáil and the Green Party for what is happening. The wrong moves that have been made and the crisis we are in are of the Government's making. The electorate will remember who is responsible when the election comes.