Mary White (Fianna Fail)

On reflection, listening to Senator Ormonde speak of looking at people's attitudes to work, it is not so long ago that people had a job for life in the Civil Service, the bank, Guinness or some institution, but society, industry and the economy no longer work like that. We are living in a globalised economy where industries move at a whim. It is important to put on record that from 1986 to 2000, Ireland's wage rates were competitive and that was one of the main reasons there was full employment. Subsequently, there was rampant wage growth but the sustainability of the economy was camouflaged by the revenue coming from stamp duty and from property. Since the international crisis arose in the financial sector, led by the drop in interest rates, we in Ireland cannot compete. Ireland is almost unique in the world as being totally dependent on overseas markets. Practically all our income is generated from the export of goods and services. We are not competitive at present. As the Leader will be aware, for a number of months I have asked that the Tánaiste and Minister for Enterprise, Trade and Employment, Deputy Coughlan, come into the House to present the plan for restoring Ireland as a competitive country so that we can get back to the position of full employment. At present, the unemployment rate is 12.5%. Unemployment is a frightening state for a person. It is the most debilitating position to be in. I also want a debate on entrepreneurship and its contribution to how we in this country react to the new global economy.