Liz McManus (Wicklow, Labour)
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Question 92: To ask the Minister for Finance his views on the assessment of the National Economic and Social Council that the Exchequer should borrow up to the EU limits in order to finance key infrastructure projects under the National Development Plan such as stepping up capital investment in education; and if he will make a statement on the matter. [21957/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I assume the Deputy is referring to a recent newspaper report attributing this view to an unpublished National Economic and Social Council (NESC) Economic Report. Given that NESC have not published this report, I do not intend to comment as to its content.

The implementation of the National Development Plan is key to enhancing Ireland's competitiveness. However it was prudent management of the public finances by my recent predecessors that has allowed us to undertake this massive investment in our country's future in the first place. I will not deviate from that course and will only borrow for capital projects where there is a clear benefit to the country, all the while remaining within the parameters agreed within the EU Stability and Growth Pact. This Pact requires Ireland to adhere to its medium-term budgetary objective of a structured budget of close to balance.