Beverley Flynn (Mayo, Fianna Fail)

——this country is capable of getting our public finances under control within the five-year period. We have the confidence of the European Central Bank in that regard. The ability of the banks to lend money is a key issue to our recovery. I look forward to the proposals on 7 April that will deal with the bad asset situation in our banks and free up money for businesses big and small. I am particularly concerned about the retention of existing jobs. The national development plan should be redirected to protect existing jobs in our economy. It is a priority for me and something I have highlighted in every debate on this issue in recent weeks.

While the Government's target must be to consider the structural deficit and will involve a new approach to taxation, as Deputy White has said those who are in a position to pay more will be asked to pay more. We must also do everything we can to protect the vulnerable people in our society at this time in particular. We must reduce prices and wages and become more competitive as a country. Ireland's problems have been compounded by the contraction in the construction industry and the fall in exports. If we did not have the problem of the contraction in the construction industry, we would still be in a very difficult economic situation today. In 2007 our exports grew by 6.8%. The forecast for 2009, however, is for a reduction of 2.6%, which unfortunately speaks for itself.

We must bring back construction to a level at which it is sustainable, which is 10% of GNP. In the budget on 7 April the Government should introduce short-term measures that meet our long-term objectives. Earlier I heard a Fine Gael frontbench spokesperson mention a stamp duty holiday.

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