Billy Kelleher (Cork North Central, Fianna Fail)

In the few minutes I have to speak on this motion I welcome the opportunity to contribute. We have had many debates in the House on the issue of the economy, the banking crisis, job creation and unemployment and the challenges that face the broader economy. At the outset, while the Fine Gael motion highlights many of the challenges facing us, it is somewhat short on proposed actions. Listening to the debates and the commentary from across the House, this would indicate that there are few solid policies coming from the Opposition which might address the difficulties Ireland faces.

The Minister, Deputy Batt O'Keeffe referred to a few policy issues that the Government has introduced in recent times in the context of trying to ensure that there is stability in the banking system, that we have access to credit for small and medium-sized business and can continually ensure that the banks have the capability to lend to such companies. It is also Government policy to ensure that the banks are obligated, because of the new arrangement between them and the Irish taxpayer, as well as on foot of the guarantees, the recapitalisation and supports they have received due to their recklessness and bad lending practices in the past, to support SMEs in these challenging times.

It is no comfort to the thousands who have lost their jobs and are finding it very difficult at this time, but in December last year the Minister for Finance told the House that Ireland had turned the corner. He spoke with confidence and authority and the fact is that the figures shown in the first quarter analysis of the economy indicate that we are now technically out of recession and that there was growth in the first quarter of 2.7%. That, in itself, is something very significant and critically important not only in the context of what we are trying to do here in Ireland - ensuring there are job creation opportunities as well as the potential to stimulate the economy - but equally across the eurozone. When one looks at the performance of our European competitors, one sees they only expanded by 2.2% on average, and this shows that Ireland is on track to economic recovery.

We have two choices in this House and in public commentary across Ireland. We can either talk ourselves down consistently and continually or we can highlight the positives and the changes in the economy that are bringing about the stabilisation of the public finances, reducing job losses and returning the economy to growth. Confidence is critically important. People should be aware, when they are speaking publicly, debating in this House or elsewhere, that by consistently talking down the economy they are contributing to the difficulties of individuals, and rising unemployment, by undermining confidence and sapping belief in the broader economy. I ask Members on all sides of the House and public commentators across the country to report on the economy in a factual manner. They should acknowledge the fact that we are now out of recession and have an opportunity to stimulate the economy and try to create job opportunities for our people.

The Government's initiatives in trying to stabilise the economy have been well received internationally and confidence is very strong in Ireland too in relation to what is being done regarding stabilisation of the public finances and support for the banks. The motion before the House tonight is simply incorrect in many of its aspects, such as that there is no confidence. There is a great deal of confidence internationally that Ireland is doing the right thing, that the Government has introduced measures to try to stabilise the public finances and that job creation measures are bringing about stabilisation on the unemployment front. For all those reasons this motion adds no value to the debate that is required in this country, which should be about how to put confidence back into the economy, to stimulate job creation and ensure that there is a lift in consumer confidence. It is about putting confidence back into the economy, stimulating job creation and lifting consumer confidence. For all these reasons, I reject this Private Members' motion. It is of no value in the debate required to deal with the changes in the economy. What we need is for people to acknowledge that the difficult decisions made by the Government are bearing fruit and that we have turned the corner.

With economic confidence growing, job creation will be at the core of the Government's policy over the next several years. Companies are already beginning to recruit and expand their labour force. Positive proposals are needed from the Opposition as opposed to its continuing nay-saying.

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