Paschal Mooney (Fianna Fail)

From that point of view, the debate under way on how we should fix the economy is to be welcomed.

I particularly applaud the initiative of the Taoiseach who in recent days has made it clear that he would welcome a significant input from those who oppose the Government in both Houses and has designated a senior civil servant to act as a liaison officer. This suggestion has been rubbished, which is rather interesting because, if memory serves me right, it has always been the case, certainly in the most recent past prior to general elections, that the Government of the day has invited the Opposition to the Department of Finance to look at the books. In fact, it was based on that initiative - I am sure the Minister of State, Deputy Mansergh, will correct me if I am wrong - that prior to the 2007 general election the main Opposition parties were provided with this facility and it was on the basis of the information provided by the Department at the time that they created and presented their manifestoes.

As I stated on the Order of Business, we have indulged in a form of historical political revisionism from 2007 when of the three major parties vying for government, the Fianna Fáil Party was the most prudent in what it offered to the electorate. Unlike other parties, it did not propose to engage in extra spending. I do not particularly blame them because at the time the economy was considered to be robust and vibrant. It is rather sad in one sense, but somehow - it is a political charge that has been thrown around like snuff at a wake - the Government has been held to be mainly, solely and exclusively responsible for the state in which we find ourselves.

Earlier this week I was looking at the unemployment figures. Interestingly, in 1997 approximately 1 million people were employed in this country. By the latter part of 2007 the figure stood at 2.25 million which, by any standard, is a phenomenal increase in a short space of time considering our history. Of course, those on the live register are suffering grievously. I was among the unemployed and do not particularly need to be reminded of what it is like to be out of work, not have a focus in life and have the dignity that work brings to the human soul. Like every politician in the House of whatever hue and colour on both sides, I understand this and I am striving to try to correct it.

What is interesting is that the unemployment figure began to rise in the first quarter of 2008. Strangely, it coincided with the emergence of the international banking crisis which has subsequently led to a downturn in consumer confidence throughout the developed world which has resulted in fewer people spending money and led to a significant downturn in exports. It is phenomenal that in this country the savings ratio has gone through the roof. This is an open economy and it has often been stated we have to export 80% or 85% of what we produce. However, time and again, not only in the economic and political areas, we compare ourselves with the United Kingdom, as if somehow this republic of 4 million people can in any way be compared economically with a country with a population of more than 60 million. There is a strong and vibrant domestic market in the United Kingdom which has its own currency and can dictate how much money is put into the economy. It is now called quantitative easing. When I was a child, it was called printing money. We cannot compare what is going on in England. If one produces a product in the UK, one has a market of 60 million people initially who will buy it. If one produces a product in this country, one has an all-island market of a little over 5 million. Therefore, we must export. That is the key to our future prospects - the surge in exports coupled with the policies the Government is pursuing.

I applaud the Minister, Deputy Brian Lenihan, who is coming under enormous pressure and unfair criticism for having been lied to for the past two years and about whom people are saying he did not tell the truth. The people on whom he was relying were not telling the truth.

We are where we are, which is an awful phrase to use. I commend the Government on the policies it has undertaken. I hope this current debate that is engaging all the political brains of this country will result in a positive outcome that will benefit the people who need it most.