Madam, - There are so many inaccuracies in Noel Peers's assessment of Charlie McCreevy it is hard to know where to start in response.
A few points for clarification: Far from having "squandered the greatest economic growth the country has ever had", Mr McCreevy's policies have directly underpinned and driven our economic transformation. In his seven years as Finance Minister, he has overseen the creation of over 420,000 jobs. There are now 1.8 million people working in the State. Long-term unemployment has been cut by 80 per cent since 1997 and unemployment, at 4 per cent, is the lowest in Europe. €5 billion in tax cuts has been returned to Irish workers and economic growth has averaged over 8 per cent per annum since 1997.
Cuts in income tax were matched by very substantial above-inflation increases in old- age pensions, child benefit and other social welfare payments.
His statement that Mr McCreevy "agreed to sell Eircom well under the value and also lost Eircom shareholders a substantial amount of money" is a contradiction in terms. The decision to establish the National Pension Reserve Fund - funded initially by the sale of Eircom - means that Ireland is likely in years to come to be the only country in the EU with adequately funded pension liabilities.
He has also proven to be a prudent Minister for Finance, ensuring an ongoing reduction in the burden of our national debt. Ireland has second-lowest debt level in the Eurozone after Luxembourg.
The claim that the SSIA scheme has "taken from the poor and given to the rich" is also nonsense. The scheme has well over a million subscribers saving on average €150 a month with the overwhelming majority of savers coming from low and middle-income brackets. As he concludes his term as Minister for Finance, Charlie McCreevy can be justifiably proud of his achievements. - Yours, etc.,
KEVIN BARRETT, Kilmainham, Dublin 8.