For several weeks we have had two stinging assessments of the Government's management of the public finances by the Irish Fiscal Advisory Council, IFAC, and the Economic and Social Research Institute, ESRI. The Minister for Finance is publishing the summer economic statement. The line being bandied about in the media this morning is one of prudence and caution in the face of significant economic challenges and risk. However, that does not tally with what the Taoiseach has been preaching. Six months ago at his party's Ard-Fheis he committed to tax cuts of nearly €3 billion, tax cuts that would not affect 80% of taxpayers in any way. There is no doubt that families are facing a crisis, with living costs increasing all the time, and that the economy is facing significant risk. It is clear that investment is needed, particularly in areas such as housing, healthcare, education and several others.

It is very difficult to do that in light of the election promises the Government is making. IFAC states that the Government's published expenditure estimates are not credible. Does he believe the Government's commitment to cut €3 billion of taxes over the next five years is equally not credible in light of the significant challenges we see and the need to be cautious and prudent? Increasing the tax band by €6,000 every year for the next five years is simply not credible.

That is a tax policy of my party and one we stand over. Anyone earning over €37,000 a year would benefit from it. The average person working full-time in Ireland now earns €47,000 a year. As such, it is not only middle-income people who will benefit; it will be people who earn less than the average income. Certainly, higher income earners will benefit too but the vast majority will be middle-income earners on €35,000 to €50,000. Those who gain the most in percentage terms will be in that category.

The Deputy asked how that can be achieved. I appreciate that he may not have had a chance to read the summer economic statement yet, but on page 38 he will find Annex 1, which indicates how tax relief of approximately €600 million a year could be achieved while allowing much more money to be made available for investment in public infrastructure and services. The ratio is probably one of 3:1 or 4:1 and it can be accommodated within the fiscal space. That is not necessarily to say it can be started in the forthcoming budget, which will depend on other factors. I am curious to hear the Deputy use IFAC's criticism of the Government I lead. Let us not forget his party's policy at the time of the 2019 budget was to spend more and finance it through additional borrowing.

No. It was by broadening the tax base.

That was Sinn Féin's policy. Its policy was to increase spending by even more than we increased it and to finance that through additional borrowing. It was to apply the maximum flexibility within the fiscal rules, which would have meant more borrowing and a rising deficit every year. There is a table on that in the document for the Deputy as well.

So much for prudence. That is ridiculous. Fine Gael should get its "Abolish the USC" posters out again. Does the Taoiseach remember those?

Please allow Deputy Howlin to speak.

Fine Gael did not do it either.

A bit of respect for colleagues, please.