Loans to Ireland Bill

No, I will not give way. The Prime Minister said:"““That is why a priority for any Conservative government led by me will be to create a much better environment for business… We know it can be done. Just look at the Republic of Ireland.””" Two years later, at exactly the time when Ireland's six largest banks were forced to borrow €20 billion from the European Central Bank, the Prime Minister said that Ireland had"““a 'future fund' of assets, providing security against future liabilities and unknown shocks coming down the line.””" Perhaps those on the Treasury Bench will update us on how that future fund is doing in Ireland. Finally, in June 2008, at a Cameron Direct event in Harlow, he said:"““When it comes to the engine room of the country, the economy, you know you can look across to southern Ireland where they have created a dynamic economy. Well we've got to do that right here.””" Our message to the Chancellor as we prepare to support his Bill is not to replicate Ireland, but to repudiate the measures that put its economy in such a perilous position. We understand that there is an O'Donnell circulating a plan B in Whitehall against the Chancellor's wishes. As the Chancellor said in The Times, the Irish have"““much to teach us, if only we are willing to learn.””"