I took the Order of Business for Fine Gael today in the Seanad. A momentous day with lots to say.

Yesterday was such a vast day, with huge numbers suggested with dreadful consequences. But two points stand out for me. Firstly, the effect of yesterday will be to double our national debt. Secondly, Anglo Irish Bank will absorb nearly €40 billion of our money in the coming years.

I made the point that the FT recognised the plan but said that two criteria must be met. They are that the loss to taxpayers is minimised and the issue of bank losses are settled. The editorial of the FT concludes that this is not the case. So, why is this plan been implemented?

It’s because the interests of investor classes are seen as too powerful to challenge. Their interests must come before the tax payer. I heard a lot of people use the word tragedy yesterday. Tragedy had 3 phases. Hubris, we saw so much of this in 2006 and 2007. Folly, we saw this yesterday in the set up of NAMA and the delay in doing anything.

And then? The fall. I just hope, hope so much, that yesterday made the fall of this government nearer and more certain.

Sir,

Marc Coleman’s recent criticism of Fine Gael’s economic thinking ignores all of our recent policies. While commentators and politicians sometimes make selective use of facts, to ignore all of our analysis over the last 8 years is some achievement.

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I can’t remember who was speaking when this photo was taken at our National Conference but they obviously had an impact on me. Can’t remember if it was awe, terror or what but everybody else felt the same!

Last night I attended a public meeting over the future of St Vincents swimming pool on the Navan Road. Over 200 people attended the meeting.

The pool closed in September and now looks as if it will not open soon. The total cost of renovation for the pool is nearly one million euro.

The community undertook to participate in fund raising to get the pool open again. However these efforts will need to be supported by some form of state support. I committed to doing all I can to get this state support last night.

I raised the potential closure of social welfare offices on the order of business yesterday. It is beyond belief that those on benefits should be asked to pay for wage cuts. It’s bad enough to see people outside the passport offices but outside our social welfare offices? Beyond belief.

Spent most of the afternoon working on amendments on the Finance Bill.  I placed amendments on the bill to change the research and development tax credit regime to encourage spin out companies.

The Government did not accept my ideas but said they would examine them for future implementation. If this doesn’t happen I will make them the centre piece of a private members bill.

After that, back home for a constituency AGM.