Michael Noonan (Limerick City, Fine Gael)

There has been an extraordinary change since the Government was elected ten months ago. The Government is working every day bringing forward initiatives to restore health to the economy and this has been recognised at home and abroad. The live register figures passed through Government yesterday and they were published today. They are the best set of positive figures since 2010. I do not suggest they are satisfactory because there are significant levels of unemployment in the country but things are moving in the right direction.

Our model is dependent on export-led growth and the projections for exports are up again on the figures published this week. On the figures for January, consumer sentiment, which affects the domestic economy, is up to 56.6 on the index. It was 49.2 in December and last January it was at 48.7. This represents a significant increase in consumer sentiment and the economy is lifting slowly. We would prefer if more significant progress was being made but the depth of the hole explains the tardiness of progress made.

NewERA will invest when it is satisfied it can make profitable investments with taxpayers' money and that there will be a real creation of jobs. It will not dig holes and fill them in again simply for the sake of activity.

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