Michael Moynihan (Cork North West, Fianna Fail)

I welcome this opportunity to commend the Government's amendment to the House. I congratulate the Minister for Finance, Deputy Brian Lenihan, and the Minister of State at the Department of Finance, Deputy Mansergh, on assuming their new roles.

The national development plan is one of the cornerstones of the Government's strategy for the future. It is vital that we continue to develop infrastructure in rural as well as urban areas. We must progress the decentralisation programme because it brings development to smaller towns and allows public service thinking to expand beyond the confines of Dublin, thereby providing a balanced input into the development of policies and regulations.

The developments that have taken place throughout the country belie the Opposition claim that the Government squandered the boom. Examples of these developments are the not-for-profit child care facilities which have been built at enormous cost to the taxpayer and which provide important supports for young couples with children. In recent years, 45,000 additional permanent places in primary schools and 22,500 places in post-primary schools have been provided, along with enhanced facilities. This is no mean achievement. The Government has spent money wisely on building child care facilities from scratch.

Ten years ago the unemployment rate was 15% or more. Twenty years ago we were exporting 40,000 to 50,000 young people to England and America. Some of these are now living undocumented in America. For the first time since the Famine, we are providing for our own people and long may that continue. It is not correct to say that we have squandered the boom. The fundamentals of our economy are strong and, while challenges undoubtedly lie ahead, the Government will be able to meet them. The lessons of history must be learned and we must keep a tight rein on public finances. We must ensure, however, that the decentralisation programme continues to be rolled out. Despite the doom and gloom merchants, today's ESRI report augurs well for our economy. I commend the Government's amendment to the House.

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