Lucinda Creighton (Dublin South East, Fine Gael) | Oireachtas source

I will not have time for my wrap-up at this stage. The Minister for Finance, Deputy Michael Noonan, is waiting.

I am not really sure what Deputy Joe Higgins's questions were. Clearly, we have a different outlook on the measures required to rebalance the public finances and get the Irish and European economies back on track. I am not sure we will be able to align our positions in any sense.

On the genuine question on concrete steps on job creation, there is considerable untapped potential in the European Union. The process of realising fully the potential of the Single Market is not nearly complete after 20 years. The Single Market has been very beneficial for the economy and Irish companies, particularly the SME sector. It has also been very important in attracting inward investment. There is potential to open up the Single Market for services. Ireland's economy is becoming increasingly oriented towards the exportation of services. This is vital to us.

The implementation of the overall digital agenda, as proposed by the European Union and agreed by all member states, and specifically the measures in respect of the digital single market comprise very concrete steps that will be taken forward by the Irish Presidency from 1 January. It is estimated that if the digital agenda, as outlined by the European Commission, is fully implemented by 2020 and backed by the member states and the European Parliament, it could contribute approximately 4% to the overall GDP of the Union, which is significant. While we may talk about stimulus programmes, the reality is that there are very few resources available for stimulus programmes across the European Union. What we can do is generate growth through competitiveness. Deputy Joe Higgins may not like competitiveness, but I happen to be a big believer in it. We can also generate growth by opening up markets and enabling entrepreneurs and innovators to find new market opportunities within the Union and through free trade agreements, FTAs. Ireland is talking about completing the FTA with Canada, moving forward with one with Japan and beginning the negotiations on one with the United States.

If the will exists at European level - I believe it does now more than ever before - we can contribute something to growth in the Union, which is the only sure way to ensure job creation.

Deputy Murphy asked a fair question about what is happening in the context of funding through the budget process investment in services and infrastructures that can assist growth and job creation. Even with the reduction proposed by the Council President under heading 1A, which specifically focuses on research, innovation, education and so on, it is still proposed to double almost the investment in research and development under the Horizon 2020 strategy and through education measures such as Erasmus, which is significant. We would all love if more resources were available and if there was not a drive from the net contributor countries to reduce the Union's budget but we are fighting to maintain this important heading, which accounts for approximately 10% of Irish net receipts from the Union through the multi-annual financial framework. It pales into insignificance compared to the CAP, which accounts for more than 85%, but it is still important and has huge potential for growth. This is not fixed expenditure allocated per member state and, therefore, every member state, company and academic institution can compete for funding under this heading. Ireland can do much better under the next multi-annual financial framework. We would all love if there was more potential but we can do a great deal with this budget.

Under the Irish Presidency, we are looking at moving forward with a proposal that will be published by the Commission next month, which is the youth transitions programme. This will incorporate the so-called youth guarantee, which the Minister for Social Protection will prioritise. That will present a framework to help us to target youth unemployment at a Europe wide level based on the Austrian model, which has been successful. It has great potential.

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