John Gilroy (Labour) | Oireachtas source

Since this Government was elected every budget we have had to introduce has been a difficult one and we accept that. When I say "difficult" I mean it has been difficult for the people of Ireland. Some €31 billion has been taken out of the economy since 2008. That has been a staggering blow to our people but it has been met with fortitude and resilience. People have endured austerity but, unlike what many people will try and say here, austerity is not a policy. It is a necessity after the previous Fianna Fáil-led Government, of which my two friends were members, drove this economy on to the rocks and destroyed it. Therefore, what could we do but only try to retrieve an almost hopeless situation. I remember when we came in here first and were informed of exactly how bad the situation was I, for one, was shocked to my core at how bad a state the economy was in. Addressing that necessitated raising taxes, cutting services and all sorts of other awful measures. With this budget, the deficit is now approaching 4.8%, down, as my colleague Senator Michael D'Arcy said, from over 30% when we came into government.

It is worth repeating that Fianna Fáil left the public finances 30% in deficit. Senator Michael D'Arcy described it charitably as banana republic politics. That is what it was. How did we recuse it? It has been done with the greatest of difficulty. The Opposition said at the time that it could not be done. People made great sacrifices to achieve it and we must be conscious of that. We must also be conscious that further difficulties lie ahead. We can say, and I believe we can be confident in doing so, that the worst is over, that next year's budget will be one devised by ourselves when we will have the control of our economy and our destiny in our hands. My personal opinion is that Fianna Fáil people who drove this country onto the rocks should never again be let near the reigns of power or government.