Mary White (Carlow-Kilkenny, Green Party)

It is good to have this opportunity to debate the economy. The speed of the global downturn has awakened international economies to action, which is what we now have. Before talking about current action on fiscal and economic challenges, it is important to remind ourselves that Ireland is not fully responsible for the current challenges. Make no mistake about it, this is a global downturn. As the sun sinks over the Hang Seng each evening, simultaneously rising on the FTSE screens each morning, it is the same shiver that goes down the traders' spines. The last 12 months has seen a global credit crunch as the reverberations of sub-prime mortgages have impacted upon us. Global food prices have risen, driven by rising demand, drought and escalating fuel prices and interest rates, and Ireland is not the sole trader on these issues. Public spending plans for this year are now too ambitious and so we need a modicum of fiscal pruning in order to harvest the benefits of such an act in the future. The savings announced are welcome, but I want protection for the most vulnerable and marginalised in society to ensure that they will not be aversely affected by these fiscal adjustments. My party and I will ensure that those in need of greater support with fuel allowances will not have to endure a greater burden during the lifetime of this Government because of rising fuel costs.

As we adjust our public finances, let us look towards the future and the possibilities and opportunities for our people and our economy. Sometimes the best opportunities come at times of great difficulty. I started a business in the 1980s, when the economic landscape was bleak. If one shows innovation and is dogged, determined and different, fortunes can be turned around. The Government will lead the way in this regard and I have no doubt the entrepreneurial and hard working people of Ireland will respond. We have opportunities in areas such as tourism, where the number of people visiting this country from January to March this year was up by 60,000 on last year.

We also have opportunities in the renewable energy sector, and the huge investment in renewable energy research and supports for the sector are resulting in new employment opportunities every day. The recent energy demand side management study shows that €3.6 billionin economic benefits could be accrued through energy efficiency alone. The German state of Schleswig Holstein has seen 48% of its new jobs come from so-called green collar employment. There are opportunities in the area of exports, as the export of financial and IT services has led to growth and employment. In its recent medium-term review for 2008-2015, the ESRI documented this fact.

Opposition Deputies regularly spend their time asking what the Government is doing to improve our competitiveness. Let us not forget all the successful structures in place in this country which are encouraging both indigenous industry and foreign investment. These include the better regulation programme, the implementation of reports from the enterprise strategy group and the small business forum, the national skills strategy — which will see €150 million spent by the Government this year on training the Irish workforce and those trying to enter it — the strategy for science, technology and innovation, the national development plan, the work of Enterprise Ireland and certain reforms in this year's budget such as the extension of the business expansion and seed capital schemes. I have no doubt that any successful conclusion to the current review of Towards 2016 will again sharpen our competitiveness.

This country was awash with debt 20 years ago and was lacking in hope. People rallied together. Much has improved and we must remember that those improvements, along with prudent Government action and guidance, will steer us through these difficult times. We in the Green Party are ready to play our part to drive change, to be innovative, to create jobs and to ensure that the poorest in our community do not suffer. This country has a good future. Quo quis sapientior eo beatior est should be our motto. He who knows more is wiser. A wise Government with wise policies will ride out the storm. The ship of state is seaworthy and will survive the current global storms.

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