Maureen O'Sullivan (Dublin Central, Independent)

Losing one's job is probably one of the most devastating things that can happen to somebody. It is a life defining and life changing moment because of all the feelings that come with it. Graduates are affected but I am concerned about 40 and 50 year olds who find themselves unemployed for the first time in their lives. They can feel worthless because of not being able to contribute to the household. There are endless days with no focus to them.

When we had a Private Members' motion on mental health we found there were direct links between recession and the economic downturn, which have serious effects on people's mental health. I hate using the term "suicide" in a threatening way but I have no doubt some of the reasons for the increase in the numbers of people taking their lives very tragically in this country has been because of the economic downturn.

One would hope that with every Government Department and over 35 agencies and offices involved with actions to support job creation and job retention we will see radical change. The monitoring group is positive. There will be quarterly reports on the work and the action delivered. The plan will be continually measured and, it is to be hoped, delivered on. All the paper plans are worthless unless they can deliver. I hope there is also an action plan if they are not.

There is a lot in the plan about encouraging foreign direct investment. We have a lot going for us as a country. We have a well educated English-speaking workforce. Particular skills might be missing but our young people are imaginative, creative, innovative and inventive. We see this all the time in craft fairs, markets and at the Young Scientist & Technology Exhibition. We have a mild climate and are not subject to natural disasters like other countries.

Foreign direct investment has generally been beneficial for communities but also for investors. There are ambitious plans in this regard. I note one deals with education services. There was a presentation to the Joint Committee on Foreign Affairs and Trade in which authorities said having foreign students in this country is a very lucrative area.

I am sure economists can give me the arguments in favour of incentives. I find one section quite bizarre, namely section 14 on the special assignee relief programme. There will be tax breaks for people coming into the country. Some 30% of salary will be exempt from tax for up to five years and there are provisions for holiday homes in the countries of origin. One aspect which really affected me is the financing of children's education. It seemed to give a thumbs up for fee paying schools in this country. What is wrong with non-fee paying schools? Much money is given to fee paying schools to the detriment of other aspects of education.

On indigenous start-ups, as others have said we need banks to start to release funding and take on board the sound business plans available. They can be criticised but the banks must have an open policy with the money they have been given.

We also have to be more proactive on job retention. I know of small businesses which are in trouble. A small injection of funding would have kept them going. I met a man who runs a small business some months ago. He employed 20 to 30 people and dealt in construction but a major developer went into NAMA or to sunnier climates to make more profits. He was left high and dry and had to let people go.

There are great opportunities in tourism, particularly in terms of culture and sport. Many commemorative events are coming up.

I refer to community employment schemes. They have provided fantastic services to many communities, in terms of child care, home school, care for the elderly and care for the disabled. They were done at a fraction of what it would have cost the State to provide those services.

I chaired a meeting last night of Debt and Development Coalition Ireland that looked at development aid. Given our finances are dictated by the World Bank and IMF, the discussion was on the countries of the global south, in Africa, Asia and Latin America, which have been receiving these loans, as we are now. The loans were given to those countries in the knowledge that those countries could not repay them and that they would drive them into further poverty. The loans were given in the interests of the creditors and political and business economic elites in those countries and the policy conditions attached have devastated the recipient countries, with local industries such as cotton being decimated following the opening up of the markets. I hope we are not going down that road but if history teaches us anything it is that we do not learn from history. The facts are there, however, to show what the IMF and World Bank have done to these countries and we are now borrowing from them and I hope we do not end up in the same situation.

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