Seanad debates

Saturday, 29 January 2011

Finance Bill 2011 (Certified Money Bill): Committee Stage (Resumed)

 

1:00 pm

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)

There is no question of hubris. There are modifications that can be introduced, but the broad direction of that manifesto in the national recovery plan is that two thirds of the adjustment must take place on the expenditure and one third on the taxation side. Although Fine Gael is maintaining that it can make an even bigger adjustment on the expenditure side, it will find it will be difficult to do that in office. On the other hand, the Labour Party is saying that half of the adjustment must take place on the taxation side and Sinn Féin is maintaining that two thirds of it can be done on the taxation side, which is an impossibility. It is a politically attractive impossibility-----

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