All Dáil business has been set aside this week to facilitate the swift passage of the Finance Bill and allow for an early General Election.
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Updates:
2030 Leas-Cheann Comhairle Brendan Howlin has adjourned the debate on the Finance Bill until tomorrow morning at 10.30am.
2005 In his last speech to the Dail before retiring, Labour's Michael D Higgins said the Republic established by those who founded the State had been marked by a political and administrative failure.
He told TDs we had created a system of administration that never saw the citizen as an equal.
Mr Higgins claimed we had paid a high price for what he termed the anti-intellectualism and authoritarianism that had characterised that Republic.
The Galway West TD said the gap between the citizen and the decision making apparatus of the State had grown dangerously wide.
1937 Fianna Fáil TD Noel Ahern told the Dáil he could not find a reference to the cap on Public Service salaries in the Finance Bill and said he hoped it had not been forgotten.
1915 Fianna Fáil's Charlie O'Connor appealed to those who have indicated that they will vote against the Bill to 'do what's right for the country' and vote in favour.
Fine Gael TD for Cavan/Monaghan Seymour Crawford said he welcomed the 'u-turn' by Minister Brian Lenihan on the changes to the Universal Social Charge.
1841 Charlie O'Connor says that Google suggests he has contributed to an above average number of debates.
1813 Fine Gael's Damien English says Sinn Féin should spend less time lecturing others on politics and perhaps lecture their leader on finance. He said '...that man hasn't got a clue... He showed it in 2007 and I thought it was a one off mistake. I listened to him again this morning, he doesn't have a clue, he doesn't understand what he's talking about. He's misleading people.'
1804 'Why all the so-called gurus (alluding to the possible candidature of David McWilliams) running in posh areas?' wonders Mary O'Rourke. 'They're not going north of the Liffey.'
1802 Mary O'Rourke tells the Dáil that it does not matter what your surname is, 'if the voters don't like the cut of your jib you may stay at home.'
1749 Independent Deputy Finian McGrath told the Dáil that he was disillusioned at recent events in politics.
'People want reform and sensible solutions.'
He said jobs are a priority and challenged election candidates not to have posters made overseas.
The Independent TD also warned that people were worried that deposits are moving out of Irish banks.
1744 Pearse Doherty said he would not describe this as a Finance Bill.
Mr Doherty said the measures therein would compound the difficulties in this country.
He said the low tax model has been a failure.
'The Finance Bill enshrines the interests of the wealthy.'
1741 'Let the people have their say – because we are the representatives of the people, not the representatives of the markets.' - Pearse Doherty
'This is a disaster of a finance bill. It is a political fraud that has been perpetrated by Fine Gael and Labour'
1735 Sinn Féin's Pearse Doherty has attacked Fine Gael and Labour and said the Finance Bill should be scrapped and an immediate General Election should be held.
1732 Eamon Ryan said he found it difficult to tax the lower paid and cut social welfare, but he challenged anyone to meet the budgetary requirements without taking such measures.
'Adjustments have to be made because of unsustainable measures taken in the past.'
He criticised Sinn Féin for saying the way to raise the money is to tax the higher paid.
'Maybe the whole capitalist market system should be challenged, but in this country, we live and depend on the globalised market economy.'
1720 Mr Ryan said last year was a very difficult one.
He said he never understood what the Labour Party in particular would have done differently and asked what would have happened if the banks could not have opened.
'There could be justification for saying that the Government's actions had not been quick enough,' he conceded. But, he said, further testing of the bank balance sheets will take place and that the level of debt 'may not be as bad as some people think.'
1714 Deputy Ryan says 'compromise is important across the parties at this time.'
He has also thanked Fine Gael for looking for a mechanism to have the debate.
1713 From the Opposition benches, Eamon Ryan is calling for an 'honest election that sets out different alternatives.'
'The politics of outrage and anger should have no part in it.'
1712 David Davin Power: The four contenders for the Fianna Fáil leadership are due to address their parliamentary party this evening ahead of tomorrow's vote.
It is thought that Micheal Martin is now in a commanding position to succeed Brian Cowen.
1646 Making her speech in the Dáil, Labour's Finance spokesperson Joan Burton re-iterated her party's opposition to the Finance Bill.
'Its weakness is the inherent imbalance and unfairness that lies at its heart.'
Deputy Joan Burton also saidthe provisions of the USC are blatantly unfair and said that it was perverse those on the very highest incomes come of it with a net benefit
1642 David McCullagh: The Finance Bill is due to pass through the Oireachtas by Saturday night, with the Dáil on standby to sit at 8pm that evening to consider any recomendations from the Seanad.
That timetable clears the way for an election by the end of February, though the Taoiseach indicated today that the Dáil is due to sit next Tuesday afternoon - he may use the opportunity to make a closing address to the 30th Dáil before requesting the President to dissolve it.
1627 The USC will impose 'severe hardship' on people, says Michael Noonan.
Deputy Noonan said that, while he welcomed the changes to the rate imposed on medical card holders, those with disabilities and widows should be excluded.
He said the Minister should increase the income threshold applying to the charge.
'The Finance Minister broadened the tax net too wide.'
1615 Have you seen any election posters prematurely put up in your area? Mary Wilson on Drivetime would like to hear from you - @drivetimerte
1612 'The Finance Bill contains no proposals to stimulate economic growth, doesn't address concerns of the most vulnerable in society.' - Michael Noonan.
Mr Noonan described the legislation as the last act of a crippled government.
Deputy Noonan said his party did not support the measures announced on Budget Day and said FG would continue to oppose the measures now.
1610 Bryan Dobson: Dáil TV coverage - one of those times when pictures speak louder than words - showed the packed opposition benches far outnumbering the Government side.
1544 Mr Lenihan said he was aware the USC has been the subject of much comment in recent days but said it was necessary to address the situation where 45% of income earners pay no tax.
He said the Government shares some of the concerns expressed.
As well as changes to medical card holders, Mr Lenihan said that those who are self employed and earning over €100,000 will have their rate increase from 7% to 10% over that level.
Full text of Minister Lenihan's speech here
1537 The Dáil debate on the Finance Bill has got underway.
Minister for Finance Brian Lenihan has said any uncertainty - or worse, failure to have it enacted - would be damaging to Ireland internationally.
He said such uncertainty could jeopardise the EU/IMF deal.
Mr Lenihan also confirmed changes to the Universal Social Charge, saying that the maximum rate applying to medical card holders should be 4% and not 7%.
He said that it was apparent that those on medical cards have been adversely affected by the new charge.
1528 The Taoiseach has indicated Saturday next may not be the final meeting of the Dáil.
He was asked by the Fine Gael leader Enda Kenny if the House would meet next Tuesday, and he said it was down to meet that day.
The Government's plan is for the Finance Bill to be passed by both the Dáil and Seanad by Saturday, at the latest.
1525 A shot of the Green Party in their new seats: http://twitpic.com/3tauxg
1518 Jackie Healy Rae has told RTÉ News that his position on the Finance Bill is the same as that of Michael Lowry.
Mr Healy Rae said he may comment further later.
1511 A few lines from Micheal Lowry's statement on the Finance Bill and the events of the past week: 'This power vacuum, at a time of national economic crisis, is made all the worse by the internal disarray of the Fianna Fail party and the destabilising and irresponsible half in - half out performance of the Green Party since last November.
'The blatant cynicism and political opportunism of the Labour Party in particular has been laid bare by their repeated declarations that (a) the Finance Bill has to be passed in the National Interest but (b) we are not going to vote for it.
'For political advantage, they want to see the Finance Bill passed by the outgoing Government so that they can avoid electorally unpalatable decisions'
See the full statement here
1503 In response to comments by Sinn Féin, the Taoiseach says claims that he does not have a mandate are 'vacuous and stupid'
1502 Bryan Dobson (@bryansixone): Six Government ministers - the entire cabinet - are lined up alongside Taoiseach in the Dáil.
1455 The Taoiseach thanks the Green Party for its work while in government and wishes members well for the future.
1454 'I hope there is sufficient support in the House to pass the Finance Bill' - Brian Cowen
He said the present Govt is functioning and carrying out its duties.
1453 The Government cannot rely on Independent TD Mattie McGrath's support for the Finance Bill.
The South Tipperary TD told RTÉ News he has concerns about the bill, which he hopes the Minister for Finance Brian Lenihan can address at a meeting later this evening.
1451 Eamon Gilmore: 'This week's proceedings will bring an end to the 30th Dáil and to a dysfunctional govt.'
He said his party was opposed to the Finance Bill but was in favour of giving members of the House time to debate it.
1449 Caoimhghín Ó Caoláin repeated his party's opposition to the Finance Bill and said the Taoiseach should call an election immediately.
1448 Speaking from the opposition benches, the Green Party leader John Gormley said Labour and Fine Gael should abstain in the Dail vote on the Finance Bill.
1443 Bryan Dobson (@bryansixone): Pictures on RTÉ now from Dáil of much depleted government benches and skeleton government
1442 Fine Gael's Enda Kenny agreed with the Government proposal (on the time being allowed to debate the Finance Bill) but warned that his party 'would express its views on the bill' during that debate.
1441 The Dáil is to sit on Saturday night to deal with any recommendations made on the Finance Bill by members of the Seanad.
Brian Cowen told the Dáil this afternoon that the House will sit at 8pm on Saturday and is due to adjourn at 10pm.
1436 Green Party TDs took their seats on the Opposition benches.
1434 Taoiseach Brian Cowen is addressing the Dáil. He is outlining the Order of Business.
1432 Deputies are beginning to assemble in the Dáil.
1428 David McCullagh (@mcculld): Brian Lenihan If Lowry and Healy Rae go against the Govt it does cause serious problems.
1404 Brian Lenihan told News At One this afternoon that the Government is planning to bring amendments to the Finance Bill relating to the Universal Social Charge.
The proposal would introduce a lower rate for any medical card holders who are currently subject to the 7% rate. These will now see their rate lowered to 4%.
But self-employed people earning more than €100,000 will pay an extra 3% surcharge on any incomes above that amount. The Minister said this would mean such people would be back at the levels they were before the Budget.
The charge, introduced in the Budget, amalgamated the health and income levies. It had three rates - 2%, 4% and 7%.
1358 David McCullagh (@mcculld): We know for sure that the election will be formally declared by this time next week at the latest. The election is likely to be on the 25th of February.
1350 The Finance Bill is due to complete all stages in the Dáil by Thursday - the Seanad will sit on Friday and Saturday to debate the legislation.
