Marc MacSharry (Fianna Fail)

I join Senator Leyden in calling for a debate on export credit insurance, given its importance at present. In times with such challenging news on an ongoing basis, I welcome the fact that the value of exports rose by 5% in April and in the same period imports fell by 6%, which increased the State's trade surplus. That is a very strong and encouraging performance at a time when worldwide all economies are recording strong declines in trade. I also welcome the news in recent days that consumer confidence is up to a 14-month high and there are a number of factors for that. It is important that when we have such challenging decisions to make we note good and positive developments.

On the recommendations made by Colm McCarthy's group on the savings of up to €5 billion, it would be much better if Members of the House came up with their suggestions on where the savings could be made rather than react to what it is clear will be very stark and difficult recommendations. It will be extremely difficult to have consensus on a set of recommendations where cuts are involved. Ultimately we will all want to see €5 billion in cuts provided we, as collective people - I do not mean us as politicians - are not affected. No sector wants to be directly affected. It will require many painful decisions and I ask the Leader for some time to be made available, sooner rather than later, so we can come up with our own suggestions on what priorities should be made for those cuts. I do not know whether the report in its entirety will be published prior to the summer recess or whether our reactions to those proposals can be as proactive as I know Members of the House would be anxious that they be to achieve the levels of savings required.