Billy Kelleher (Cork North Central, Fianna Fail)

The weakness of sterling has created the added difficulty that tourists from the United Kingdom will not visit Ireland. In addition, exporting to the UK is extremely difficult for exporting companies. These are major challenges which are, unfortunately, outside our control. We must, therefore, try to be as competitive as possible by cutting and paring costs where possible to enable companies to survive and export. Unfortunately, jobs are often lost as a consequence. The shedding of jobs is the human side of the pressures exporting companies are experiencing.

The view that private sector companies do not mind shedding jobs is incorrect. Most employers I know find it difficult to call employees to a meeting in their office or canteen to inform them that some of them will lose their jobs because of the difficulties the company is experiencing. I do not like the view that such decisions are taken in a harsh, cold and calculated manner or as part of a hire and fire approach. In my experience of dealing with the private sector, the opposite is the case and employers genuinely try to hold on to employees for as long as possible.

As the Minister of State, Deputy Mansergh, discussed the budget in detail last week, I will not refer to the detail of the budget. However, it provides for a PRSI exemption to encourage employers to recruit people who have been on social welfare for a number of months. In addition, the Government has introduced a stabilisation fund and employment subsidisation fund. These funds are being used. They are assisting companies to retain employees and encouraging employers to take on new staff.

Senators referred to stimulus packages. A broad stimulus package is in place. More than €5.5 billion will be spent on capital works in 2010 and the Government is committed to spending the same amount on an annual basis until 2016. Ireland's capital expenditure programme as a proportion of GDP is much higher than the European Union average of between 2.5% and 3%. I remind Senators that much of the funding for the programme is borrowed. We must, therefore, be conscious of the need to rein in the amount expended on running the State. That has been acknowledged internationally. It is not just about money markets, but also about Ireland's reputation. The reputation of any Government and its people is critical to ensuring we have a standing internationally. This applies not only to borrowing money but equally to attracting inward investment to the island. Cé mhéad nóiméad atá fágtha agam?