Eugene Regan (Fine Gael)

It is quite an honour. It is a mark of recognition of this House and its significance that the magazine has a distinct award for Senators.

I refer to the Department of Finance statement to the social partners reported in The Irish Times today. It states that the economic prospects for this year and 2009 are challenging, which must be the understatement of the year. The Department also points out that the three priorities are to manage the slowdown in the economy, stabilise public finances and regain competitiveness.

On the note of competitiveness, I know the incoming Taoiseach, Deputy Brian Cowen, is reflecting on the ministerial pay awards. If we are serious about competitiveness and showing some leadership in the area, my question to the Deputy Leader is whether a decision has been made on reversing the ministerial pay awards and whether the Green Party supports the Minister for Finance and incoming Taoiseach in that decision, if such a decision is about to be made.