While I welcome the efforts of the Labour Party motion this evening on our economic situation, it is disappointing they continue to produce solutions that are ill-advised and ill-thought out.

Our ongoing economic difficulties are the subject of much scrutiny and discussion by economic experts around the world. Some of them have been critical of our actions and many have been advocates of our actions to date. Much space in Irish daily newspapers has been taken up with our difficulties and it is difficult for ordinary citizens not to think of themselves as economic experts also. Economic analysis is being carried on everywhere. It is time for real debate and a united purpose by all concerned, both inside and outside this House. It is no longer a time for political point-scoring. We should all have a common purpose to see this country and indeed the world, out of this economic turmoil.

There has been much progress over the past 18 months with regard to the state of our banks. The guarantee scheme was successful, despite the will of the Labour Party. It it had its way we would now be like Greece but we are not like Greece. This was demonstrated this week by the Bank of Ireland as no bank in Greece could go to the markets and procure funds. The nationalisation of Anglo Irish Bank is still the subject of much debate. I believe it was the right thing to do. I agree it has cost our nation a lot of money but I believe it had to be done to stabilise the banking system. NAMA has come into being in more recent times and it too is the subject of much debate. I believe it was necessary and is the best solution on offer. We have seen some extremely tough budgets in the past two years and these were difficult for many people. We have not taken any joy out of any of these actions. We were simply faced with intolerable difficulties and based on the best advice available, we shaped solutions. That is what a Government is elected to do and that is what we will continue to do, even in the face of political point-scoring from across the floor of the House.

There have been a lot of underhand dealings carried out by a many people in the banking industry. I do not wish to target everyone in the banking sector but there has been wrongdoing which is difficult to tolerate. However, these people will face the full rigour of the law in due course and I look forward to that day. There has been much focus upon the pension payments of bankers and Oireachtas Members. Such individuals must consider their own situations and whether it is right to be in receipt of these payments in these current times. I commend those who are doing the right thing by forsaking their pension entitlements. While no laws are being broken by those in receipt of these payments, we must show unity of purpose. However, it is absolutely vital that we do not focus our energies on the negativity of our situation, a trap all too easy to fall into. We must focus ahead to better times, letting the law of the land deal with those who have done wrong.

Times are difficult for many individuals and families, many of whom I meet in north-east Donegal every week, who are trying to make ends meet, and businesses desperately trying to keep their doors open. I understand their plight, empathise with them and re-affirm our commitment to bring the country back to economic stability.

Public sector workers are currently pondering the Croke Park deal and what it means for them. I urge them to consider it carefully with an eye to the wider picture. It is a good deal and one which will provide long-term solutions to some of our current financial difficulties while also delivering on vital reform.

On a more positive note, it is not all doom and gloom. Figures released last week showed exports remain stable while the value of imports increased. Retail sales have increased by 3% since last year with motor sales increasing by 30% since this time last year thanks to the scrappage scheme introduced by the Minister for Finance.

While I do not like to quote unemployment figures because these people are real, not just statistics, the ESRI and the Central Bank have predicted unemployment figures will level off over the coming year. Levelling off may not be something to shout about but we aim to make progress in this regard before the year ends. We must level off before we can begin to reduce the dole queues.

The Government has introduced a series of initiatives for job creation and retention, including the employment subsidy scheme, the enterprise stabilisation fund and the PRSI jobs incentive scheme. Ireland continues to attract foreign direct investment with various jobs announcements in the past several weeks across the country. The president of Engineers Ireland, Mr. Chris Horn, said last week that the number of multinationals operating in Ireland is jealously viewed by competing jurisdictions.

Measures have been imposed upon the banks in return for the moneys that have been invested for their rescue and future. Investing our future in the banks was not a decision taken lightly but out of necessity. We are beginning to see the return and will continue to do so throughout this year and next whereby ordinary people and businesses will be able to access credit again.

We must inject some positivity back into society to show the world that Ireland intends to get back to business. We must do it together. I look forward to seeing these initiatives being positively productive in returning Ireland to economic growth.

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