Colm Burke (FG) said it was important to look at what what happening in the private sector when considering the rejection of Croke Park II. “Many workers in the private sector have suffered pay reductions of more than 40 per cent,” he said. “Many small business owners are putting whatever money they have saved in the past 10, 15, 20 or 30 years back into their businesses to try to preserve jobs.”

Calling for a balanced debate, Mr Burke said the reality was that wage levels in the public sector were approximately 17 per cent ahead of what they were in the private sector.

David Norris (Ind) said the ballot on Croke Park II was an exercise in democracy of the kind he would like to see more often. “It is unlike the situation in which the people came here from the troika and lied to us to say we could not and must not, legally and morally, burn the bondholders,” he added. “Within a short matter of time, they went to Cyprus to tell people they must burn the bondholders.”

Mr Norris said the financial houses, rating agencies and banks should be told to “F- off”. When Cathaoirleach Paddy Burke said unparliamentary language could not be used, Mr Norris said he meant they should “go forth and multiply, to put it biblically”.

Paschal Mooney (FF) asked where the money to be saved would come from. “Are the doctors, nurses, teachers, those on maternity benefits, single-parent families and all those who are vulnerable in society, who are struggling under the yoke of increased taxation, the ones who will have to find the money ?” he added.