Fergus O'Dowd (Louth, Fine Gael)

When we entered into government, the cupboard was almost bare thanks to the financial mismanagement of Fianna Fáil and previous Governments. There is less money than we expected, but the country must effect changes in its policies, particularly its investment policy. If the Government cannot borrow, State companies can use their initiative to create jobs.

NewERA contains a commitment to establish a new State water company to lend much needed investment to our water networks. We are also committed to the creation of a smart grid company that will have ownership and responsibility for natural energy networks. The programme for Government envisages the merger of Bord na Móna and Coillte to create BioEnergy Ireland with the aim of realising the full potential of Ireland's bioenergy resources.

The NewERA plan is to create new jobs by lending off the Government balance sheet. We will not have 1,000 young people emigrating every week as was the case under the Deputy's Government. The disgraceful way in which the economy was run down by his party in government is clear to us now and we are committed to creating as many jobs as possible under the NewERA programme, which we will implement as quickly as possible.

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