Marc MacSharry (Fianna Fail)

I move amendment No. 1:

To delete all words after "Seanad Éireann" and substitute the following:

commends the Government on its management of the economy and public finances, which means that Ireland faces the current global economic crisis from a position of strength, given the strong growth of recent years and very low levels of public debt;

acknowledges that through the policies now being pursued to restore credibility and sustainability to the public finances, these will help Ireland to take full advantage of the global upswing when it emerges, thus ensuring growth returns to its potential growth rate;

notes that:

whilst the labour market has deteriorated significantly recently, over 2 million people are still employed, which is 600,000 more than 1998;

the Government through its ongoing management will continue to address the economic and fiscal issues facing the country over the coming years in a responsible and sustainable manner;

the external factors impacting upon the economy and the recent publication of economic forecasts by the European Commission which have downgraded the growth outlook for the eurozone and the wider European Union;

furthermore, in the light of the changed economic realities recognise that the recent publication of the Addendum to the Stability and Growth Pact sets out a framework for the restoration of sustainability in the public finances over the medium term, commencing with immediate action to secure a further adjustment in the public finances of up to €2 billion in 2009;

welcomes the recent publication by the Government of—Building Ireland's Smart Economy: A Framework for Sustainable Economic Renewal', which provides a blueprint for how the Government proposes to re-orientate and reprioritise its business over the next few years so as to weather the global economic storm in a realistic and sustainable way;

notes that Ireland continues to be well positioned to attract investment and to re-establish export led growth; and

welcomes the Government's commitment to providing a competitive operating environment for our enterprise base.''

As I did yesterday, I again welcome the Minister of State to the House. I again welcome what have become our many opportunities to speak about the economy and rightly so. I commend the Fine Gael group on using its Private Members' time for discussions on how we can best meet the current economic challenges. I acknowledge that its motion makes some suggestions. I am sure that in the context of supporting the amendment, I have just moved, the Minister of State will take those into account and will consider implementing any which are appropriate in terms of policy.

I had been looking forward to another exchange with Senator Twomey, but I see the team has changed for tonight's event. I will need to wait for another day until Senator Twomey returns.