Richard Bruton (Dublin North Central, Fine Gael)

I thank the Minister for his reply. I am sure the Minister is as acutely aware as I am that we have been losing 1,000 jobs every working day since the beginning of the year and approximately half of those are in the construction sector. Against this background, there is a great deal of urgency in the process the Minister announced on 7 April but today, 7 July, there is no progress to report. What urgency is the Minister giving to this matter? Does he agree that, against a background where he is cutting 40% from his own capital budgets, this process is seriously adding to the difficulties in the sector? Does he agree that we need to consider imaginative ways of funding necessary infrastructural investment? Would he consider the Fine Gael approach which is entirely commercial in respect of certain types of infrastructure?

In respect of PPPs, has he changed the model he uses to evaluate PPPs given that, to use the economics term, the shadow price of labour is much lower now, and the shadow price of capital is much changed for the State because there is an absolute limit on what we can borrow? This very significantly changes the attractiveness of opting for a PPP in this environment. Is the Minister moving the process on rapidly? Is he taking into account the new and horrendous realities in our economy that change the way we should look at these issues?

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