Fine Gael has proposed a five-year economic plan which it says is based on Department of Finance figures. The party has committed itself - in Government - to limiting public spending, keeping taxes down and borrowing if necessary for infrastructural projects.
In a major economic policy statement published today, party spokesman Jim Mitchell claims that current expenditure is out of control.
Fine Gael is proposing a limit on current public spending increases. The party says that, in Government, it would not countenance a budget deficit at any time.
Mr Mitchell says that Fine Gael will limit any increase to the level of the growth in Gross Domestic Product plus 2% as long as there is a budget surplus of €2m.
On taxation, the Fine Gael Deputy Leader said the party would make provision for modest concessions and would not increase income, corporate or capital taxation.
Fine Gael claims that the National Development Plan is hopelessly behind schedule. The party says that, if elected, it will produce a timetable for all key projects and will borrow if necessary to sustain the plan.
Mr Mitchell says the objective is to provide levels of per capita income similar to the US within 15 years, and the best levels of social provision and environmental protection in the European Union.
