Taoiseach says FF will win third term in office

The Taoiseach has asserted that Fianna Fáil can and will win a third term in office and has challenged the Opposition to publish…

The Taoiseach has asserted that Fianna Fáil can and will win a third term in office and has challenged the Opposition to publish their proposals for government.

Bertie Ahern has claimed the potential alternative government has plans to reverse the current Coalition's tax cuts, predicting Fianna Fáil would secure a third term in a row.

In a speech at a party function in Cork last night, Mr Ahern repeated the party's refrain that "Fianna Fáil will never take risks with the economy".

He demanded that Fine Gael, Labour and the Green Party reveal the detail of their policies.

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He also said the National Pensions Reserve Fund, set up by the Government in 2001 to put money aside for future pension payments, had done particularly well this year. This follows several years of poor returns from the fund's investments in global markets.

"This year so far the fund has earned €1.7 billion, or some 14 per cent, bringing its total value to €14.4 billion", Mr Ahern said.

"Overall, since its inception in difficult market conditions four years ago, the fund has earned €2.6 billion.

"Both France and New Zealand have now replicated our approach to the issue of funding pensions into the future."

Mr Ahern said it was the Government's "foresight and vision in the area of taxation that has created the climate for economic growth. Our reductions in personal taxation and corporate taxation levels have been integral to our economic success."

However, he said, "the factions of the so-called rainbow now naively look to reverse the important taxation decisions we made. Labour continue to float the idea of reintroducing a wealth tax; unfortunately, they will not outline what they mean by this."

Mr Ahern added: "The Greens have also said again and again that they will raise a raft of taxation levels. This is a policy which failed in the past - and it will fail again. It is time for Trevor, Pat and Enda - and whatever other colour in the rainbow there may be - to come clean and show us their policies. The people must be able to see exactly what it is they propose to do with the successful Irish economy."