The outgoing Government did not deceive the public during the General Election, the Taoiseach, Mr Ahern, told the Dáil tonight.
"The boom has not been squandered" he said in a staunch defence of the Minister for Finance, Mr McCreevy, after Fine Gael this evening tabled a vote of no confidence in the minister.
The Tánaiste, Ms Harney, also defended Mr McCreevy against claims by Fine Gael finance spokesman, Mr Richard Bruton, who accused the minister of a "reckless spending binge".
"He must go because for two years in a row, he has allowed spending to grow at ten times the rate of growth in tax revenue," Mr Bruton said.
He said as the General Election approached Mr Ahern and Mr McCreevy deployed a "formula" in which heavy spending and largesse aimed at creating photo opportunities was deployed without planning or consideration of the cost.
The consequence, he said, was that the "weak and the voiceless"; "hard-pressed families" and "ordinary workers" were being forced to pay for the profligacy. Meanwhile, the Minister was promoting "unfettered pursuit of profit and rugged individualism regardless of the social price", he added.
Mr Bruton concluded: "Three out of four people believe the Minister for Finance misled the public in order to win the General Election. He has lost the confidence of the people. He has no credibility in asking the people to make sacrifices. He must go."
But both Ms Harney and the Taoiseach sprang to Mr McCreevy's defence, questioning Fine Gael's credibility on public finance issues. Mr Ahern said Fine Gael's election manifesto, if implemented would have "plunged Ireland back into a downward spiral of borrowing for current spending, of job losses and of emigration".
He referred to the accusation that Fianna Fail - and Mr McCreevy in particular - misled the public about the state of the public finances during the General Election.
The Taoiseach said: "I take very seriously the charge of deception that has been made against the Government ... This Government has a proud record of achievement and integrity. We were frank about the changed circumstances which Ireland found itself in from the second half of 2001 ... It was stated plainly ... No information was kept form the people prior to the General Election."
Ms Harney said Mr McCreevy was a "rock of common sense" and had her full confidence. He has presented more budgets than new Labour Party leader Mr Pat Rabbitte has been in political parties, she added.
Mr Rabbitte rose to the bait. "Champagne Charlie and Good Time Mary" wanted to take responsibility for the boom, he said, but blamed external economic factors for the downturn.
He picked up on the Mr Bruton's charge that the boom had been squandered and the General Election bought.He said prudent spending and value for money were not considered during the pre-election spending splurge. Mr McCreevy had spent money like a "drunken sailor" he said.
"Never has a government had so much and done so little while favouring so few," he said.
The debate and vote on the motion of no confidence will conclude tomorrow.