Feargal Quinn (Independent)

The cumulative effect of that is that we will make ourselves uncompetitive if we are not careful. The purpose of this motion is to ensure that we are careful. It reminds us that there is an elephant in the room and, although we may not wish to acknowledge it, this debate may enable us to acknowledge the challenge to some degree. I hope that will be taken into account.

One or two younger Senators said they did not want to be reminded what it was like back in 1987, that they wanted to consider the future. I want to remind them of what it was like in 1987, however, because it was not good. I was around in the 1950s when it certainly was not good either. Things were not good in the 1980s and I congratulate those who got together in social partnership, which was one of the prime factors in solving this problem. Those who do not remember what it was like and do not give credit for what has happened in the past 20 years, run the risk of becoming not only complacent but also cocky. There is a danger that might happen tous.

The purpose of this debate was to state that we have an inflation problem which we have allowed year after year to be above the European level. It allows our consumer price index to be up at 3.9%, which is way beyond that obtaining elsewhere. Let us ensure we do not allow that to fall from our gaze. It should be a top priority for the Government and I believe this debate will enable Ministers to rate inflation as a higher priority than they might otherwise have done. I have confidence that the Minister for Finance will take that into account and, in that respect, I hope this debate will help in some small way.