Denis Naughten (Roscommon-South Leitrim, Fine Gael)

I welcome the opportunity to speak in this debate and commend Deputy Bruton on tabling the motion. Throughout the summer, we were told ad nauseam that a Tallaght strategy was needed in respect of the economy. Last night, however, as Deputy Bruton was speaking in the House, four Ministers of State entered the Chamber during his contribution and three of them left. Not a single representative of the Government was prepared to listen to what Deputy Bruton had to say. This is disappointing because I note the Minister of State referred to the issue of protection for depositors. Deputy Bruton proposed that measure on 1 October 2007. It took almost 12 months for the Government to implement it and it did so when we were on the verge of a run on our banks.

It is about time the Government began to take up a leadership role on the economy and dealt with issues that matter to Irish citizens. Irish businesses are going to the wall at present and Irish people are losing their jobs on a daily basis. Young families, who are mortgaged to the hilt, are feeling the brunt at present and the blame lies firmly with the Government. In 2005, the current Taoiseach and then Minister for Finance was advised privately by economic experts that the explosion in property prices was unsustainable. However, he publically encouraged young people to invest their future in housing. Why was that? One must remember that 35% of the house price ended up in the Government's coffers in taxes and charges of one form or another. That constituted €35,000 of every €100,000 that was owed in mortgage repayments, many of which were mortgaged over a 40-year period.

At present, many ordinary people are trying to make ends meet. They must pay the bank to keep a roof over their heads, pay for cars and child care and must devote most of their income to household spending. At present, many of my peers are going to community welfare officers for assistance with their interest payments because they do not wish to lose their homes, many of them having lost their jobs. What is the Government's answer? Its response is that after three months of idling and doing nothing, it would unveil a plan next month, which would be implemented in four months' time. The cost of living in the economy must be tackled. Vulnerable employees must be upskilled. The economy must be revolutionised by giving real power to the Competition Authority. Competitiveness within the economy must be improved. The economy must be reinvented and new opportunities must be created.

Two years ago, the economy was experiencing a shortage of labour and we needed to try to fill those jobs. There now is a shortage of jobs and we need people to come here to create jobs. One way to do so is to tap into our immigrant communities, who have significant skills that are not being used properly within the economy at present. Three steps could address this issue easily. The first is to ensure that language courses are available for people. Second, many of the individuals concerned have third level qualifications. However, because such qualifications are not recognised in Ireland, they cannot use them. We need to tap into those skills and make them available to the economy. Third, we must deal with the issue of business permission. Many immigrants who have come to Ireland have entrepreneurial skills. However, because the law stipulates that they must invest a minimum of €300,000, many of them do not have the opportunity to establish a business in Ireland. A minor change in the law could facilitate and allow them to so do. While there are many challenges, many solutions exist. The difficulty is that the Government is not prepared to listen or to implement such proposals.

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