John Perry (Sligo-North Leitrim, Fine Gael)

I congratulate the Fine Gael spokesman on enterprise, trade and employment, Deputy Leo Varadkar, in bringing forward this very important policy, an eight-point plan for job creation. There are many disastrous consequences of the mismanagement of the country by this Fianna Fáil-Green Government. The two greatest disasters for every parent and grandparent in the country are the rising level of youth unemployment and the reappearance of forced emigration.

The consequences of Government incompetence are visible everywhere in Sligo-Leitrim. Before Christmas, GlaxoSmithKline announced the closure of its Stiefel plant in Sligo with the loss of 250 jobs. Further bad news followed when it was confirmed that the Abbott Ireland plant at Ballytivnan is to axe 41 full-time jobs. The closure of the Tiscali call centre with the loss of 160 jobs is a further devastating blow to Sligo-Leitrim. These closures will have a major impact on the local economy.

Youth unemployment is a problem of particular urgency. It leads to great emotional anxiety among both parents and students. Youth unemployment is a problem that diminishes us all. It not only damages individual families, it corrodes entire communities. The big risk is that it will cause permanent damage to individuals, families and the economy.

Today's school-leavers and graduates are experiencing the worst employment market for many years. Recent graduates have done everything society asked of them. They worked hard to get a good education. They are ready and anxious to work and now they cannot get a job. They do not want social welfare. What they want is the opportunity to work and earn their way in life.

As in the past, it now seems that this Fianna Fáil Government plans to rely on emigration as its main economic strategy. The lack of domestic job opportunity is forcing young Irish people to take the one-way ticket abroad to find a job. This is a national tragedy. There is no credit flowing. There is no confidence and no credit. NAMA is delayed by 18 months and there is no evidence of the Government's solution even starting to work.

Fine Gael's proposal for a national recovery bank would get credit into business. A thriving SME sector will be key to Ireland's recovery. What we now have is an economy with no confidence and no credit. This situation is directly due to this Government's incompetence. Without confidence and credit, the economy cannot recover.

Fine Gael is the only party to present concrete, effective measures to protect existing jobs and create new ones, as well as bringing down business costs and helping struggling companies to stay afloat. The economy is on the floor, the banks are doing nothing for the economy. It is an appalling situation. The Minister has said many times that the banks will give credit. I am in business and I speak to business people every day. It is not happening. Jobs are being lost as we speak. We have nearly half a million people unemployed and there is massive emigration. It is a tragedy to think that the SMEs, the backbone of this economy, are on the floor and this Government is standing idly by and doing nothing.

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