Brian Cowen (Laois-Offaly, Fianna Fail)

The last time this figure was exceeded we were talking about 15% or 16% unemployment. The current figure represents approximately 9.1% or 9.2% unemployment. I make that point while in no way diminishing the position. There are far more people at work now, and having seen figures recently, there are still approximately 1.88 million people working. It is important to make that point.

There was a question on VAT rates. The sterling differentiation is the problem in that matter; that is, the valuation of sterling vis-À-vis the euro is the issue. More than half the products referred to by the Deputy do not attract VAT at all. If the contention is that the 0.5% increase in VAT has caused the problem, it is not the correct analysis of the position.

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