Enda Kenny (Mayo, Fine Gael)

In respect of the first 12 months, we have included in the progress report only issues that have either been dealt with fully or very substantially. As I pointed out, there were a number of issues we were not able to develop or did not progress in the way we thought we could.

In respect of the economy and banks, the EU-IMF programme was renegotiated; the reduction of the deficit target for 2011 was exceeded; interest costs were renegotiated to achieve a reduction of more than €9 billion; reliance on ECB funding was reduced; and the cost of bank recapitalisation was €7.5 billion less than estimated.

In respect of employment, as I told the Deputy previously, we published the jobs plan for 2012 which includes more than 250 proposals to be implemented for small and medium enterprises; Pathways to Work was launched, as was the national JobBridge internship scheme which has filled more than 5,000 places; €20 million was provided for a labour market education and training fund; income tax rates did not increase and primary social welfare rates were not reduced; the minimum wage was restored; the corporation tax rate was left unchanged; a targeted reduction in VAT - from 13.5% to 9% - in the hospitality sector has resulted in the creation of more than 11,000 jobs; the lower rate of PRSI was halved on jobs paying up to €356 per week; and NewERA was established alongside the new strategic investment fund.

In respect of international trade which is important for exports and, therefore, jobs, we set up the Export Trade Council and the Global Irish Forum was successful and is being followed through. We also launched a €10 million international start-up fund to encourage overseas entrepreneurs to invest here. In the next two weeks I hope to announce the first positive results of this measure which involves companies which are investing in Europe expressing an interest in setting up here. The same applies to the areas of health and education.

In respect of debt distress and housing, we set up a specific Cabinet sub-committee on mortgage arrears which is to meet again this evening; mortgage interest relief was increased for first-time buyers who had purchased homes between 2004 and 2008; a pilot mortgage-to-rent scheme is under way; €5 million was allocated to alleviate difficulties in unfinished housing estates; and the National Asset Management Agency has made available up to 2,000 properties for social housing. There have also been a number of other reforms.

The Sinn Féin programme sets out the party's view that it does not want further assistance from the IMF or the European Union and the National Pensions Reserve Fund should be used up to create employment. Some employment could be created using the fund. As I have pointed out, the Government intends to acquire a loan from it for the development of the infrastructure associated with Irish Water which will be of such importance. However, there are other proposals in the Sinn Féin programme which I do not accept.

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