Brian Hayes (Dublin South West, Fine Gael)

I apologise. I wish to put it on the record of the House because it is important for colleagues to hear it. In 2008 the total public sector pay and pension bill was just short of €20 billion, with €17 billion in pay and €2.3 billion on pensions. By 2015 under our estimation, the pay bill will have gone down from €17 billion to €14 billion while the pensions bill will have gone up from €2.3 billion to €3 billion. When one factors in the pension levy on top of that there are savings of €3.6 billion. In 2008, therefore, we were paying €2.3 billion on pensions while by 2015 we will be paying €3 billion. The increase is of €700 million but the actual pay reduction will go down from €17 billion to €14.3 billion, in a seven year period and in a circumstance where inflation is back in the economy. Is there any business, the Senator's included, which could produce that, when the country has been put into receivership?

That is what the Croke Park agreement is and people need to understand that. They should not mind the inflated headlines they see in the newspapers. Those are the facts of the situation.