Martin Mansergh (Tipperary South, Fianna Fail)

Deputy Coveney referred to a return to rapid growth, but given the experience of recent years it is more important to achieve a recovery to sustainable growth. Much of the policy document seems to be based on the distinction between the Exchequer borrowing requirement and the public sector borrowing requirement and I am unsure if there is any validity in that.

With regard to Deputy Coveney's point about the disjointed nature of the approach, only yesterday in Cork City Hall I launched a flooding map and plan for the entire Lee catchment area.

Deputy Varadkar referred to the unemployment level of 11% which is far too high but it is still a good deal lower than it was some 20 years ago. To consider the matter positively, employment is still at a level several hundred thousand above the level in 1997.

Earlier, I referred to the budgetary challenges facing Ireland. Notwithstanding this the Government is still committed to a very substantial Exchequer capital programme in the coming years. In the next five years we will spend some €31.4 billion on public infrastructure amounting, on average, to more than 4% of estimated GNP. In 2009 the Exchequer will spend some 5% of GNP on public infrastructure. This will make a substantial contribution to turning the economy around.

There is no denying the severity and scale of the challenges facing Ireland. The road ahead will be difficult; hard decisions must be made and unpalatable decisions will confront this Government and any Government in the years to come. There are no easy choices. However, if we build on the progress make by Ireland in the past decade and if we face the hard choices before us the future remains bright.

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