Timmy Dooley (Clare, Fianna Fail)

I support the Government's amendment. It is important that we recognise the difficulty facing the Government and the entire political system in trying to manage the economy at this time. The downturn is evident across the world. In particular, the stock market and financial market meltdowns are creating unprecedented difficulties for administrations.

Clearly, a small open economy like ours will suffer the ravages of unemployment at a much quicker rate than larger economies. Therefore, the Government has been required to take decisive action more quickly than other nations. It should be commended for doing so. The Government has recognised the need to address the issue by first bringing forward the budget and subsequently putting in place the bank guarantee scheme, which is viewed throughout Europe as successful. This is not to suggest that this or another Administration will not need to recapitalise banks at some point, but that is for another day. The necessary decisive action has been taken and has shown the markets and the wider community that the Government is prepared to take tough decisions.

The country faces serious challenges, particularly in terms of the increase in unemployment. A number of factors are involved. The Government's strategy for attracting foreign direct investment and its support for indigenous industry are important planks of the overall strategy. The agencies with responsibility — the IDA and Enterprise Ireland — are working well in a difficult global environment.

We must refocus our relationship with Europe. I do not wish to rehash the Lisbon treaty debate. However, if we have learned anything in recent months, it is that remaining at the centre of the European project will be vital for the economy. Many sectors in society should be mindful of the difficulties encountered by Iceland in light of the stance they took on the Lisbon treaty. Our continuation at the heart of EU decision-making is vital if we are to ensure the underpinning of employment. It will allow us to grapple with an international crisis.

I welcome the reference by the Minister of State, Deputy Kelleher, to the need to deal with redundant apprentices due to the sudden change in the construction sector. Many people who had legitimate expectations of finding employment in Ireland are in difficult positions because they will not be able to travel to other countries to take up gainful employment. It is important that they find methods to finalise their apprenticeships so that they will be able to find meaningful employment, whether in other countries or in Ireland when the building boom resumes.

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