The text of Government's Budget documentation is available below
"When I presented the Supplementary Budget to this House last April, I said we could work
our way through this period of severe economic distress. Today, I can report that
notwithstanding the difficulties of the last eight months, we are now on the road to economic
It is of enormous benefit that the main political parties in this House share a common
understanding of the extent of our difficulties. And even if we disagree on how to solve our
problems, our agreement on the amount of savings required sends a powerful signal to the rest
of the world that we are able and willing to put our own house in order.
Today, I want to tell the Irish people that even though our economy is still in a weakened
condition, and our self confidence as a nation has been shaken, the Government’s strategy
over the last eighteen months is working and we can now see the first signs of a recovery here
at home and in our main international markets.
We have taken bold, decisive and innovative steps to manage our way through this crisis. In
all our actions, our concern has been to protect jobs, to provide a functioning banking system
and to return this economy to the path of sustainable growth. We have sought to do all of this
in a manner that is fair and that protects the most vulnerable.
The measures we have taken have been commended by international bodies such as the
European Central Bank, the European Commission, the IMF and the OECD. They have also
won the approval of the international markets. Tangible evidence of this is the reduction in
our premium on borrowing in recent months.
But we now have the confidence of knowing that our plan to return this country to prosperity
is working. Yes, we have had to make some very difficult choices in framing today’s Budget
and in doing so, we have tried to be as fair as possible. But by taking the difficult but
necessary measures now, we will rebuild our nation’s self confidence here at home and our
reputation abroad. "