In a statement, issued yesterday, I announced that I will vote for the budget tomorrow evening. I have come to this decision after extensive consultation with the Government over the past week.

 I believe that our country is in grave economic danger. The consequences of not passing a budget would be disastrous for Ireland and its people. It takes experience, political maturity and courage to make the hard decision and do what is right for our country. Despite some adverse reaction in my constituency to this decision I feel duty bound to put the country’s interests first.

 Failure to pass a budget would lead to further economic failure. If our Government and political leaders renege on a vital condition of our agreement with the EU/IMF we will suffer irreparable reputational damage. Such an abdication of governance would attract ridicule and scorn throughout Europe and the international financial markets.

 I believe we have no alternative but to honour and comply with the budgetary parameters as set out in the agreement with the EU/IMF in respect of budget 2010.