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The stock market here at home recorded the largest one-day increase in its history on Friday after a week that rocked the financial world to its core.

The million dollar question on the lips of the tax-payer is, ‘is the proposed €400 billion pay-out to banks going to hurt anyone other than the tax-payer at the end of the day, when the economy recovers’.

Decentralisation plans for Mayo were largely unaffected by Minister Brian Lenihan’s budget, the details of which were announced this week, except for 38 jobs which will be reviewed in three years’ time. Confirmation was given by the Finance Minister that decentralisation will go ahead in Claremorris and Charlestown.

Rose Conway-Walsh has described Finance Minister Brian Lenihan’s decision to cut Child Benefit payment across the board as “another shameful attack on families”.

Local Senator and Fine Gael’s spokesperson for Social and Family Affairs, Nicky McFadden, has condemned the Budget as targeting the most vulnerable in Irish society.

New strategies must be adopted on both the economy and in next year’s local elections as “the status quo position” and the old methods are no longer acceptable in the current climate. This was the message Taoiseach Brian Cowen delivered this week at his press conference in Galway.

“Politics is the art of looking for trouble, finding it whether it exists or not, diagnosing it incorrectly, and applying the wrong remedy.”

The airport departure tax penalises regional Irish airports, business, and passengers at a difficult time, and no adequate information has been received as to the tax’s purpose or how it will be implemented.

Following Brian Lenihan’s indication that the Fianna Fáil Government is preparing the way for Social Welfare cuts, Mary Harney refused to rule out the possibility when questioned by Fine Gael Front Bench Spokesman Phil Hogan TD in the Dáil yesterday morning.

Local Labour councillors have wasted no time in chastising the government over what they describe as disastrous proposals made in last week’s Budget.