Ruairi Quinn (Dublin South East, Labour)

I congratulate the Minister officially on his appointment. I think this is the first time he has taken questions. For those of us who have had that experience, including Deputy Allen, it is not in the same category as a maiden speech, but it is not far away.

Is the commitment to reach the target of 0.7% by 2007 the same as the commitment to deliver on benchmarking? In other words, is the Government's commitment to deliver on benchmarking as solid and as clear as the Minister's commitment to use every effort to reach 0.7% of GNP? Are these on the same level, of a similar reliability? My second question is on the idea to put the commitment on a statutory basis. Does the Minister see any difference between that commitment and the one made by the former Minister of Finance in statutory terms, irrespective of the economic circumstances of the day, to commit €1 billion or 1% of GNP to our national pension reserve fund? That is now enshrined in legislation. There is no provision for a downturn in the economy. Why can the same type of commitment not be made to the Third World as is being made to our future pension requirements?

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