Rónán Mullen (Independent)

Cuirim fáilte roimh an Aire Stáit. Gabhaim buíochas leis an Seanadóir Hannigan as ucht a chuid ama a roinnt liom. Cé nár chóir dúinn beag is fiú a dhéanamh dos na dúshláin eacnamaíochta atá roimh na tíre ag an am seo, tá sé tábhachtach go dtuigfimid gur éirigh le tíortha eile déileáil leis an fhadhb seo nuair a theip ar mbainc eile. Bhí siad níos fearr ina dhiaidh sin. Bá chóir go mbreathnódh lucht déanta polásaí na tíre seo ar an méid a rinne muintir an Fhionlainn, nuair a bhí córais eacnamaíochta agus airgeadais na tíre sin briste, chun na córais a chur ar ais le chéile arís. Finland experienced an exceptionally deep recession in the first half of the 1990s. Within four years output was reduced by more than 10% and the unemployment rate quadrupled to almost 17%. The collapse of trade with the former Soviet Union in 1991 and also a sharp downturn in the West combined with a domestic banking crisis led to a collapse in consumption and investment spending. The Finnish Government was forced to take drastic measures to improve its competitiveness and to consolidate public finances at the same time as costly measures were needed to revive the banking sector - we can see the comparison. Public expenditure was cut almost across the board and some taxes were raised. The only exception was that research and development spending was increased rather than cut. In its analysis the OECD pointed out that the counter-cyclical support of Tekes, the Finnish funding agency for technology and innovation, proved very important in reducing the depth and length of the downturn in business research and development which in turn helped to lay the ground for a strong rebound. The Finnish Government decision to complement macroeconomic stabilisation measures with sustained investment in infrastructure, education and incentives for structural change helped to put the Finnish economy on a stronger more knowledge-intensive growth path following the crisis.

There is no doubt that the Government here must make steep cuts in public expenditure in the months and years ahead. However, today we must make a plea for education. We must be careful that in cutting into the fat from public expenditure we do not cut deep into those muscles that we will need to rebuild our economy. Education is not a cost for Government it is an investment. The courageous decision by the then Minister for Education, Donogh O'Malley, to provide free secondary school education was one of the fundamental building blocks of the Celtic tiger as we all know. In that regard I was very struck by what the Catholic Archbishop of Dublin, Dr. Diarmuid Martin, had to say yesterday at the mass to mark the opening of the school year on the subject of education. He acknowledged that our expenditure on education was below that which would be desirable. However, he said:

At the same time we have to recognise that education is different. Education is not just part of the problem of our expenditure but education is an irreplaceable part of the answer. It is people with their creativity and talent who are and will be the backbone of economic recovery.

He also said we needed to ensure that young people were not "held hostage to purely economic decisions in such a way as to create long-term damage for them... We owe our children the best even in leaner times." Those were very wise words.

If we are to build this smart economy we will need a cohort of smart and well trained researchers to act as pathfinders for our new economy. We must invest in fourth level education and PhDs if we are to aspire to be centres of research. However, we must continue to invest in primary and secondary education. It is a sobering thought that it costs more to keep a person in jail for a year than it does to educate a person up to graduate level. Caithfimid an infheistíocht sa chóras oideachais a choimeád suas. Ní caiteachas amháin atá i gceist le oideachais. Tá súil agam go dtuigeann an Rialtas go bhfuil infheistíocht in ár dtodhchaí, agus sa chumas atá againn dul i ngleic leis na fadhbanna atá romhainn, i gceist freisin.