Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

I propose to take Questions Nos. 1 to 10, inclusive, together.

The economic recovery plan was launched on Tuesday, 1 June. With the economy now reopening in clear phases, and vaccine roll-out comprehensively under way, the plan sets out renewed supports, investments and policies for a new stage of economic recovery, building on the unprecedented support provided to date.

The plan includes in excess of €3.5 billion in further labour market and enterprise supports and just under €1 billion additional funding under our national recovery and resilience plan. It will help to drive a jobs-rich recovery, with an overarching ambition of 2.5 million people in work by 2024. The plan expands key pandemic supports, including the employment wage subsidy scheme and pandemic unemployment payment, providing clarity and certainty for businesses and employees over the period ahead.

It also sets out our pathway to the sustainable rebuilding and renewal of our economy across four pillars; ensuring sustainable public finances, with the forthcoming summer economic statement to include further details on our deficit reduction strategy; helping people back into work through intense activation and reskilling and upskilling opportunities; rebuilding sustainable enterprises through targeted supports for recovery and by future-proofing enterprise to be more resilient, innovative and productive; and a balanced and inclusive recovery through strategic investment, balanced regional development and improving living standards.

The development of the economic recovery plan was overseen by the Cabinet committee on economic recovery and investment. It was co-ordinated through my Department and prepared in close co-operation with key Departments. The implementation of the plan will also be overseen by the Cabinet committee on economic recovery and investment. The development of new measures of well-being to assess progress are important in ensuring a balanced and inclusive economy and society. It is a commitment in the programme for Government in recognition that in order to achieve a well-rounded policy-making system there is a pressing need to move beyond uniquely economic measures. To this end, the development of a new well-being framework is a deliverable of the economic recovery plan.

In early February, the Government agreed to an approach to developing an overarching well-being framework for Ireland utilising the OECD well-being framework as a starting point and building on national work already undertaken in this area. Work on the development of the well-being framework is being led by my Department, working closely with the Departments of Finance and Public Expenditure and Reform and other Departments and agencies. There is also consultation with experts and stakeholders on development of the framework through the National Economic and Social Council, NESC.

The development of the framework will be an iterative process and evolve over time. Its intended to submit an initial report to Government in the coming weeks.

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