Brian Cowen (Laois-Offaly, Fianna Fail)

I do not accept many of the points in the question put by the Deputy. Of course we are facing a difficult situation, and we have budgeted for a contraction of 7.7% in the economy. The figure according to the ESRI is 8.3%, although it is more optimistic about next year than we have budgeted for. There is no question that we are in difficult times. I am glad to see the ESRI shares the short-term analysis put forward by the Government. It acknowledges that the measures taken to ensure the sustainability of the public finances are appropriate. We have taken measures to maintain the public finances on a sustainable path and I am pleased the ESRI recognises this. There is obviously a difficult but important balance to achieve in terms of ensuring sustainability in our public finances while avoiding further contraction of the economy. However, it acknowledges the need to ensure sustainability in the public finances, and the corrective action we took in the budgets was necessary if we are to have the prospect of growth in the mid-term. Not to take these actions would defer the return of growth. It is important to acknowledge that this is also part of the ESRI's analysis.

I do not for one moment underestimate the impact of such a contraction on employment. The countries that are most affected by the current global crisis are small, open economies. The Asian tiger economies have been hit to the same extent as we have. To answer the Deputy's question, the live register total for the week ending 17 April 2009 will be 384,113. Within the constraints of the public finances, we are doing everything we can to help people who are losing their jobs. That is also part of the social partnership talks that are taking place at the moment.

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