The Minister for Public Expenditure, National Development Plan Delivery and Reform, Deputy Donohoe, has been talking about cutbacks and telling European finance ministers what they need to do. I wonder if he was kept on as Chair of the Eurogroup to be a warrior for austerity. We all know European fiscal rules were suspended during the pandemic. The pandemic underlined the fundamental weakness of the fiscal rules, particularly the Stability and Growth Pact. What good are rules that will be suspended if and when they become inconvenient?

What good are rules that make impossible the necessary public investment in housing, healthcare and climate action? These are impossible under the Stability and Growth Pact. We are at an important time for EU economic policy. We need a debate on the Stability and Growth Pact, which has long been recognised as a failure. I would welcome the opportunity to say that directly to the Minister, Deputy Donohoe, in this Chamber.

Well said.