Paudie Coffey (Fine Gael)

One of the main points of the IMF report is that unemployment will reach 15.5% by 2010. This morning, while we began speaking in the Chamber from 10.30 a.m., 178 workers in the ABB transformers plant in Waterford city were called into an emergency meeting to be told their jobs will be gone by this time next year. All Senators should reflect on this devastating news for workers and families; similar events are occurring in all our constituencies.

This morning as we speak - Senator Leyden was hyperventilating and Senators from all sides of the House were sparring, as some have said - jobs are being lost by the minute. Not only will 178 jobs go but there will be consequential losses due to the service subcontractors for this very important Waterford company.

Will the Deputy Leader provide for a question and answer session with the Minister for Finance or the Minister for Enterprise, Trade and Employment? We could have a frank question and answer session on how we can all contribute across parties to a recovery plan to protect existing jobs and create others. We must discuss how to introduce stimulus to our economy. The devastating news we hear every morning is killing our economy and our social fabric. Unless we halt that decline and come up with positive ideas in this Parliament, the matter will worsen on a daily basis.

I appeal to all sides to get constructive on this. This morning's news, which I am upset about, will cause problems for families. I know every Senator feels the same as I do but we must start giving people hope. I appeal to the Deputy Leader to provide for a question and answer session here so the Seanad can become relevant.