LEADERSHIP IS the single most important requirement at this time and, to his great credit, Minister for Finance Brian Lenihan provided it under the most difficult of circumstances. With the attention of the public focused on his medical condition following a diagnosis of cancer before Christmas, he came out yesterday to assure the public that he is committed to continuing in the role of Minister for Finance for as long as his health permits him to do so. It is in the public interest that he should continue in his position, to promote confidence in the economy and to reassure taxpayers the worst of the belt-tightening is over.
The Minister has shown courage and a commitment to public service at this difficult time in his personal life. That personal resolve has been welcomed by a public grown cynical about politicians and the political process. Such positive developments are rare. They may not, in themselves, pay the bills or prevent industrial strife. But they create an environment of hope and determination. They encourage endeavour. His leadership of the finance portfolio has been recognised at home and abroad in contributing to Ireland’s standing in the world today.
It must have been difficult for Mr Lenihan to lay bare his cancer diagnosis to the public in his interviews with RTÉ and the closer world of the political correspondents’ room yesterday. He was brave, honest in his diagnosis, and pragmatic in his ability to continue to carry the most important portfolio in Government at this key time. He put in a sterling performance.
The gap between Government income and expenditure for 2009 is likely to be confirmed at €23.5 billion today when exchequer returns are published. The shortfall will illustrate the extent of the difficulties facing the State and the distance yet to be travelled. But problems are now more manageable than they were, because of tough remedial measures taken by Mr Lenihan in the course of three budgets. He paid tribute to the tremendous resilience and grit shown by the Irish people as they adjusted to lower standards of living. And he reassured them they will not have to make sacrifices to the same extent in the future.
Such assurance may be cold comfort for those who have lost their jobs or had welfare benefits recently reduced but, in an atmosphere of economic uncertainty and gloom, the injection of confidence and optimism into public discourse is of huge importance. Considerable challenges lie ahead. Within the next three months, the National Asset Management Agency will absorb bad property loans and accelerate bank losses. The result is likely to involve a further call on State investment to keep bank credit flowing.
As expected, much of media questioning concerned Mr Lenihan’s health and the effects aggressive medical treatments might have on the quality of his performance as Minister. It is understandable that Taoiseach Brian Cowen would agree to his remaining in office because of his impressive performance and general popularity. We wish Mr Lenihan well.