Paschal Donohoe (Fine Gael)

I concur with Senator Fitzgerald's request for a debate on the economy. In February 2007 the ISEQ index stood at more than 10,000 points. At lunchtime today it was slightly in excess of 5,000 points. Standard & Poor's, the rating agency on which many of our companies depend, issued six statements in which it changed the ratings Irish banks enjoy. It slightly downgraded the ratings two of our leading mortgage providers enjoy.

Tomorrow afternoon the Minister for Finance will come to the House to debate the OECD report on public services. Given it is the day when the Exchequer returns will be published and on which there are continued warning signs on the health of the economy upon which our public services depend, I suggest we use this opportunity with the Minister for Finance to debate the points Senator Fitzgerald and others have made. Otherwise, there will be a sense of unreality about the debate tomorrow that would lead to me to think the Government is trying to dodge that debate instead of engaging in it.