Ivor Callely (Fianna Fail)

Were the public informed and questioned on the merits or otherwise of this debate, I believe a level of dismay would be recorded. I am convinced that public reaction would be positive, were there an agreed motion with detailed specifics and a precise understanding of what is involved in respect of restoring confidence and helping to turn around the economy.

I attended another meeting today and although it was held in private session, those Members who were present undoubtedly will not mind my putting on record that there was unanimity among the political groups on one important issue, namely, recognition that Ireland has lost its edge of competitiveness and the measures that will be necessary to restore it. I made a number of points regarding matters that must be considered and on which action must be taken, perhaps in consultation with the social partners. Certainly, issues that affect our competitiveness must be parked for the time being. All Members are fully au fait with the issues and ingredients that are having an impact on our competitiveness and they need the political courage to spell out the measures that are necessary. I should add that in the few minutes available to me in this debate, I do not have sufficient time to go into great detail and can only touch briefly on a couple of points.

The current economic and political position is a frightening and traumatic experience for nearly everyone in our community. The level of uncertainty and lack of confidence is real for most people and families. If Members are genuine about their practices, they should try to steer away from the "them and us" syndrome and from muck-slinging in the hope that if one throws enough muck, some of it will stick. This is not helpful at this time in particular. Members are in this crisis together and the public expects them to get out of this crisis. Members' ability to work together in difficult times has never been more important. They face an historic challenge which must be addressed head on. They should seize the opportunity to develop new concepts, approaches and a period of fresh creativity. Otherwise, there may well be, as the previous speaker noted, a revolutionary transition in respect of current systems, political institutions and processes.

The Labour Party proposal on corporate governance has merit, as do the Fine Gael proposals on some of these matters, such as appointments to State bodies. On the other hand, as Senator Quinn rightly noted, the question arises as to how to get the balance right if one chooses to adopt the system used in the United States Congress, whereby committees hold confirmation hearings into every State appointment and what impact that ultimately has. I believe there is a balance to be struck in this regard.

I listened to Senator Regan's contribution on competitiveness in the economy and wholeheartedly agree with his point in this regard. Moreover, having listened to the debate to date, I agree with what Senators MacSharry and Hanafin outlined regarding the provisions and mechanisms that are in place, as well as the legislation that has been introduced in recent years. I believe Senator Butler referred to the accusation that we have blown the boom. I make this point to all Members because what I have witnessed in my short time in this House is that all of us both lived and enjoyed the boom. I have participated in debates in both Houses of the Oireachtas in which Members on all sides suggested when we had the money, we should do this or that and should spend more. I cannot recall great disagreement from Members when measures were being introduced by the Government that now is under fire for taking certain measures. At that time, I cannot recall such disagreement and the record will show-----