Alice-Mary Higgins (Independent) | Oireachtas source

There have been lengthy comments. My questions and comments relate to the newly inserted section 2(1)(b). They relate to time and the fact that these provisions allow for the extension of emergency measures. It was described how we do not want to fall off a cliff edge and that there is not an indefinite pot of money. I am responding to those points raised by Government Senators. We are in an emergency and we have a window in respect of fiscal responsibilities.The European Union has introduced a suspension of fiscal rules, much as this Bill extends various exemptions for a limited time. That waiver is there to allow states to invest in a more resilient future that will give them the stability to avoid future crises and crashes, whether financial crashes, the climate crash or the Covid response. Those of us who have urged the Government to use this fiscal opportunity want that opportunity to be used to build up the State, our public services, our public land and our reserves so that we have more as a State to face the next challenges. We are not calling for the fiscal space available, with opportunities to borrow at reasonable rates in recognition of the emergency period, to be channelled into private investors' hands, which will not make us more resilient as a State in the long term.

We need tax reserves. I guarantee that we will see Fine Gael Ministers in here in two years telling us that we need to look at austerity again and that we cannot spend forever. We said today that the Government cannot spend recklessly. When it gives a 10% stamp duty waiver and exempts investment fund from the measure-----