Paudie Coffey (Fine Gael)

I support the calls for a debate on the economy. I understand Senator Boyle's frustrations and why he wishes to blame the global markets. However, it is not the Opposition that is making these statements but the ESRI, an independent organisation. It said in its report that Ireland will experience the sharpest fall in economic growth of any industrialised country since the Great Depression. That is the reality. Ireland is more exposed than any other industrialised economy due to the failed policies of Government for the past 20 years. The Green Party might not have been in government in that time but it is now and it is about time Senator Boyle realised that. The Senator spoke about honesty. Let us hear it from the Government and hear it apologise for what has happened over the past 20 years. Then we can work out a way forward so Ireland will be best placed to benefit from the upturn when it happens.

The ESRI also points out that competitiveness is the key to the economy's recovery. Ireland must become competitive again across all sectors if it is to be in the best position when the recovery begins. Unfortunately, businesses and families throughout the country are losing hope at a rapid rate. Unemployment is expected to reach 17%. That figure is even higher than the rates in the 1980s, when many people of my generation had to emigrate. The Government has failed the people and when it realises that, apologises and moves on, we will start to make strides into real recovery. What we need from the Government are words of hope, leadership and a way back to basics whereby indigenous industries can again export from this country. Yes, it is good to get foreign direct investment but that is drying up at a rapid rate. The way forward is to invest in indigenous industries, to create employment in communities and to support businesses. Until we can debate those issues in this House and in every other forum in the country, people will not have hope.