The Taoiseach, Mr Ahern, said yesterday that despite the economic downturn he had no regrets about not calling an early general election. He also said there would be no giveaway Budget in December.
Mr Ahern said the country was in an economic slowdown for several months but whether that turned into a recession was debatable and would remain so until next year.
"Clearly the US has major difficulties but it will take some months until we see what is happening." He said it was a question now of doing the right thing for the economy to ensure that we would have as high a sustainable growth as we possibly could.
"The question of a giveaway Budget does not arise and it will not arise. We have to manage our position and hopefully we will stay ahead. It is going to be a challenge but hopefully we can do it."
The Taoiseach said it was clearly a case of the Government trying to get through the current economic difficulties in as quick and efficient a way as possible without too much damage occurring. "There will clearly be some damage. There is no doubt about that," said Mr Ahern, speaking at a Fianna Fβil parliamentary party meeting in Ennis, Co Clare.
Asked if he had any regrets about not calling an early general election, Mr Ahern said he did not. He made up his mind when he went into Government that he was "going all the way".
Part of that decision, he said, was that you had to take the good with the bad. "You have to be thankful for the good things, and for the difficult things you have to manage them and that's the way it will be until the summer of 2002 and then I will go to the people.
"I said in July 1997 that this Government would go for five years. Whatever about what other people thought, I meant it."
He said the judgment that the current conditions could make it a more difficult election for the Government were based on a belief that governments got all the credit when economic conditions were good.