The Government was accused of damaging the tourism industry during the debate on the Finance Bill, giving effect to the measures introduced in the Budget.
The Fine Gael spokesman on finance, Mr Richard Bruton, said he had noted from the daily newspapers that the industry was in trouble.
"The main measure the Government has given to the industry this year is a 1 per cent increase in its charges. We are aware that the industry is already struggling with charges.
"It is uncompetitive in many of its products. I do not lay all the blame for that by any means at the Government's door. There are problems in a competitive tourism package being provided by pubs, restaurants and so on, but I do not consider that the appropriate response is to add an increase of 1 per cent to their costs. We will rue that later in the year."
Mr Bruton claimed that the approach was part of a deeper failure by the Government to keep its sights on the important principle that a small, open economy must be competitive.
The Labour spokeswoman on finance, Ms Joan Burton, said that Ireland's inflation rate was twice the EU average. "This inflation did not happen by accident. It is the direct result of overheating of the economy by the Minister. Despite all advice to he contrary, he persisted in cutting taxes for the better-off. So deep were his tax cuts that his department was unable to forecast their impact on revenue."
She accused the Government of ensuring that there would be no let-up in price rises.
"It has adopted a twin-track approach to drive up inflation. This Finance Bill copperfastens the first element in the plan.
"The Minister has made a deliberate decision that wealthy interests will not pay for his mistakes. He has insisted on cutting corporation tax. He insisted on treating capital gains more favourably than earned income. He refuses to realistically tackle tax loopholes for high-earners. And he allows favoured sectors, like the horse-breeders, to get off tax-free."
Mr Caoimhghín Ó Caoláin (SF, Cavan-Monaghan) described the bank levy as "cosmetic," adding that AIB had made a "whopping €1,375 million" last year, the highest recorded profit from an Irish company.
The Minister for Finance, Mr McCreevy, said he had managed in successive budgets and Finance Bills to create a low tax rate environment across all tax heads. "It is a position from which our economy has thrived."
