Trevor Sargent (Dublin North, Green Party)

I look forward to catching that train with the Deputy.

As the Tánaiste mentioned, this publication represents an important step in the ongoing budgetary reform process which aims to deliver a more constructive and relevant examination of how the nation's finances are run. The inclusion of the pre-budget Estimates in the outlook in particular represents a major innovation in budgetary process in the context of the Government's move to introduce a unified budget with effect from budget 2008 next December.

The pre-budget outlook shows GDP growth in the economy of the order of 4.35% is expected for this year. GDP growth is expected to be 3.25% next year and to average 3.5% for the period 2008-10. In general Government terms, a surplus of 0.9% of GDP is still expected for this year. This means that in ten of the past 11 years we will have achieved surpluses on the general Government account.

As the Tánaiste pointed out, while 2007 represents a turning point for the Irish economy, we must not lose sight of the fact that our overall growth performance is still impressive by international standards. In light of the news reports today, and in recent days, of oil prices heading for $100 a barrel and higher, and given Ireland's far greater oil dependency per capita than the EU average, our economic well-being requires cross-party co-operation if we are to make that inevitable and urgent transition to a post-oil economy. Many comments have been made about the harnessing of wind power, green energy and renewable energy, but our first focus must be on saving energy. It is far more expensive to make energy than it is to save it. If we are serious about budgetary outlooks and spending money wisely, our investment must be on reducing the level of waste we produce and saving our energy resources to ensure less energy generation is required. As for talking about nuclear power as a panacea to address our needs in this area, it involves a huge cost and is a very expensive option. That is the first point I would make about that proposal.

The pre-budget Estimates are a testimony of the high level of public services we have now attained. It is timely to reflect on what is being achieved with the €58.5 billion in resources that will be made available in 2008 and to keep in mind the economic policies that will enable us to sustain further social improvements in the years ahead. We as a Government are determined to ensure all the increased resources we have made available will lead to corresponding improvements in our public services. That is why the Government has put in place a robust and comprehensive value for money framework in recent years to ensure we can get the maximum value out of every euro spent. This framework includes various measures, including the new 2005 guidelines for the appraisal and management of capital expenditure proposals in the public sector, the value for money and policy reviews and the reforms to public procurement. In addition, as referred to by the Tánaiste in his opening statement, annual output statements have been introduced for each ministerial Vote group, which will be examined by the relevant Dáil committees. Early next year for the first time Ministers will have to report on what outputs they have achieved with the money they were given in 2007 as well as setting out their output aims for 2008.

The pre-budget outlook and the pre-budget Estimates for 2008 envisage economic growth which must be sustainable into the medium term at a level that is healthy by international standards and that reflects Ireland's status as a vibrant, maturing economy on the European and global scene. As our growth prospects ease, we must be responsive to change and prioritise our spending to ensure that the best value is achieved.

Ba mhaith liom mo bhuíochas a gabháil le gach Comhalta de Sheanad Éireann a ghlac páirt sa díospóireacht seo. Beidh orthu, cosúil liomsa mar Aire freagrach as bia agus gairneoireacht, fanacht go dtí lá na cáinfhaisnéise i Mí na Nollag chun freagraí a fháil ar ár gceisteanna.