Opposition’s economic policies will threaten prosperity, warns Cowen
Mr Cowen said Fianna Fáil and the Progressive Democrats had delivered one of the most advanced economies in Europe from a position where almost all tax revenue was spent paying interest on the national debt and a generation of young people had to emigrate.
He warned that the spending plans of the alternative coalition did not add up and would lead to exchequer deficits and higher debt in a mere two years.
“To run an economy like ours, it is not a question of change for change sake. If your car is running well do you change to a Lada?” he said.
“We are setting out in a clear and in a detailed way a framework that explains what we would spend, what we would raise in taxes and what investment we intend to make.”
Fine Gael finance spokesman Richard Bruton said the party’s spending plans had been scrutinised by leading economists and were “soundly based”.
And speaking on his constituency tour of Meath East and Meath West, Fine Gael leader Enda Kenny accused Mr Cowen of presiding over an “obscene wastage” of taxpayers’ money. He listed the costs associated with the health service’s PPARS and electronic voting as indicative of the Government’s poor use of public funds.
“I’m not going to take any lectures on public spending from him,” said Mr Kenny.
Meanwhile Mr Cowen again refused to be drawn on plans to deal with the uncertainty in the housing market.
He said the party will reveal proposals to assist first-time buyers at the launch of its election manifesto on Thursday. He said there was nothing in the manifesto that will “disrupt the market”.
