With two months until the budget, the kite flying from Ministers is already under way. We have already heard about the slashing of child benefit and I dare say this is only the tip of the iceberg over the next eight weeks of rumours and so-called leaks. I would like to remind the Taoiseach of one thing before the Government begins its next round of imposing penalisation on the people. Last year's budget has proved to be one of the most regressive in the history of the State, disproportionately affecting those already struggling. As the Nobel Laureate, Joseph Stiglitz, has said, austerity never works to resolve economic downturns. He said that austerity instead turns downturns into recessions and plunges recessions into depressions. A succession of budgets dragging down domestic demand and delaying recovery is not the answer. There are other options if only the Government would consider them.

Increasing the effective tax rate for high earners by just 1.5 percentage points would generate an extra €650 million in additional revenue. A wealth tax could also generate more than €200 million. The Government would effectively get €850 million just by a moderate targeting of high earners. Those are just two proposals the Nevin Economic Research Institute has published in its strategy for an alternative adjustment which would lead to the same deficit outcome of 7.5% of GDP but also provide for the protection of front line services and social protection.

The Government's plans will result in the loss of 29,000 jobs next year, whereas this costed proposal would save 21,000 of those. While there is no way to fast-track economic recovery, the path the Government is taking is the wrong one. There is an alternative to penalising people while still generating the revenue required. Does the Government intend to continue to burden those who cannot take any more or will it ensure that those can pay do?

I ask the Deputy to give my regards to his fellow county-people following their victory in the all-Ireland football championship.

Get that over with first.

Let me be clear about a few things. The Commission on Taxation and Social Welfare produced a report on child benefit. I have not seen this report nor has it come to Government. Matters of a budgetary nature are a matter for consideration by the Cabinet collectively and that is what the Cabinet will do in regard to the very challenging preparation work the Minister for Finance, Deputy Noonan, has to do for 2013. The Deputy seems to forget the country is in a bailout programme and we do not have money to throw around as happened in years gone by.

The Deputy's quotation from Professor Stiglitz is incorrect. He said that austerity rarely works. I happened to be there to welcome 5,500 members of the International Bar Association to our country. They will be here for a week or longer, which will have a dramatic impact on the economic spend locally and give people from throughout the world a flavour of the personality of Irish people.

As we prepare for the Presidency of the European Union on 1 January, our focus is on growth and jobs because that is where the future of the country, and countries of the eurozone and European Union, lies. We have already made it clear that in our preparations for this Presidency that is where the focus will be - on the development of the Single Market and the continual opening of opportunities for jobs and business. I invite the Deputy and others to come to the House the week after next in order to participate in the economic debate that has been requested a number of times, taking into account the Irish Fiscal Advisory Council report, the IMF report and others.

The Deputy can feel free to criticise Government, as I am sure he will, or to put forward constructive suggestions for consideration by the Minister for Finance as he prepares to bring his recommendations to Government. I invite him, rather than simply say we can achieve savings of €200 million here or there, to justify his proposals the next time. We have moved on from people assuming that we can transform our economy overnight. We are in a very challenging position, as the people know. I expect the Deputy to back up proposals put forward in his contributions.

I would like to pass on my condolences to the people of Mayo on their loss last Sunday.

I accept them.

Perhaps the Mayo team will win next year if they do not meet the Donegal team again.

The proposals I put forward are serious ones which have been costed. I believe they will stand up to scrutiny. We must achieve a balance between cuts and revenue. The Government's agenda is one of cuts to the income of people who cannot afford them, many of whom are going to the wall. One of the proposals which I put forward today would generate extra revenue through the targeting of people who can afford to pay extra. As per that proposal, people earning €100,000 would pay an extra €1,500 in tax. Surely these people can afford to carry that burden. We should not be targeting cuts to child benefit at people on low incomes and those in receipt of social welfare benefits who cannot afford that hit, or be forcing them into having to go cap in hand to secure an increase. We should be targeting the people who can afford to pay. The Taoiseach should consider and take on board my proposals, thus targeting the people who can afford to pay and protecting those who need our help.

I again invite the Deputy to put his proposals on the record of the House the week after next. Any constructive suggestions which the Deputy has to make will be listened to. I also invite him, as someone who can well afford to do so, to pay his household charge, which will go in part towards the provision of services for the elderly-----

Hear, hear. The Deputy should not be lecturing other people about what to do.

-----people in Killybegs and the constituency which he serves. The Deputy, as a legislator, should obey the law of the land rather than take a deliberate opposite view for opportunistic purposes. The Deputy is well able to pay the €100 household charge. I invite him to do so.

Get it from the tax exile billionaires first.

The voice of Siberia.