Seanad debates
Tuesday, 27 May 2003
Sustaining Progress: Statements.
Some of the economic debate of the last year or two centred on whether the economy would have a soft or hard landing. I will state, though I heavily qualify my remark as we do not know how long the difficulties will last, so far we have had a soft landing. Unemployment is still only at 4.5%. If it stays at that rate, it will not be too bad. Senator Higgins gave a list of job losses. I wish I had come equipped with a similar list of job gains. I am not denying the job losses and the pain they have caused. Recently, Tipperary town experienced it with the PAL factory closure. However, there are some positives in all of this. While we lose some investment, we are still managing to attract it. We are going to face a competitive challenge form Eastern Europe. If that requires us to up our game, so be it.
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