Text of Budget announcement 2009

Here is the text of the Budget 2009 speech given by Brian Lenihan today.

STATEMENT OF THE MINISTER FOR FINANCE

MR BRIAN LENIHAN, T.D.

7 APRIL 2009

INTRODUCTION

A Cheann Comhairle,

As your Minister for Finance for the past ten months I have submitted one Budget and two rounds of Expenditure Adjustments to this House. Economic turmoil globally and in Ireland dictated these measures. The measures that I am bringing forward today will complete this process for 2009. I want to assure the Irish people that we have the capacity and your Government has the will to bring us out of this period of severe economic distress. We can work our way through our problems. We have faced adversity in the past – and we have prevailed.

Many of the factors that made us an economic success story in recent years are still with us: social cohesion, political stability, a young, well educated, flexible workforce, a pro-enterprise, export oriented economy. All of this remains intact. What is wrong in our economy, …

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It’s gonna hurt…. because it has to.

I have found something that nobody disagrees upon, which is the need to save the economy, but that’s where the agreement ends, because once you mention solutions the disagreements begin.

Should we fix the problem by raising taxes? Cutting public spending? A levy on the Public Sector? Bring the lower paid into the tax base? And for every person who agrees with one aspect of this there will be another who says it is the wrong answer.

I would differ, I think they all must be done, we need to solve this mess fast, and it is going to hurt, not because that’s what the government want, and not for fun, but because it has to. I like analogies so here is a fitting one: An overweight person realises one day they will die if they don’t lose weight, they can start to argue with the doctor that they want to eat the odd doughnut, but they won’t eat ice cream, they will do moderate exercise but don’t want to change …

Read More

It's gonna hurt…. because it has to.

I have found something that nobody disagrees upon, which is the need to save the economy, but that’s where the agreement ends, because once you mention solutions the disagreements begin.

Should we fix the problem by raising taxes? Cutting public spending? A levy on the Public Sector? Bring the lower paid into the tax base? And for every person who agrees with one aspect of this there will be another who says it is the wrong answer.

I would differ, I think they all must be done, we need to solve this mess fast, and it is going to hurt, not because that’s what the government want, and not for fun, but because it has to. I like analogies so here is a fitting one: An overweight person realises one day they will die if they don’t lose weight, they can start to argue with the doctor that they want to eat the odd doughnut, but they won’t eat ice cream, they will do moderate exercise but don’t want to change …

Read More