Sean Barrett (Independent) | Oireachtas source

We have all these sheltered sector industries and policies. I would like the Irish Fiscal Advisory Council to inquire more into them because if we keep doing those, we could kill the golden goose again despite the favourable international things mentioned by Mr. McCarthy like the accommodative monetary policy and a very favourable exchange rate. This is why I want to see reform if I get back the next time. We have staunched the decline and that is a fantastic achievement. I do not underestimate it for a second but an awful lot of the underlying problems are still there, which makes me worried about the future. We might have a good year but in respect of 6.2% growth, what is the stimulus package doing? Is that a repeat of the magic money in the Celtic tiger era? Most people outside Ireland say 6.2% is pretty good. Those are my thoughts. I thank the witnesses for the exercise. I hope it provokes more debate but my key point that we should not do it all over again because it has been such a disaster.

In respect of the labour market, the OECD notes the decline in graduate starting pay by about €4,000 per year from €27,000 down to €23,000. The growth of the so-called precariat compared to what we traditionally regarded as jobs is a serious aspect of a labour market. There may be a lot of younger folk who have just entered the labour market wondering why people in secure jobs are saying that this is a wonderful labour market. It is not that wonderful if one is in the precariat. Our four visitors stimulated me a lot and I like that.