Joe O'Reilly (Fine Gael)

-----which must have international ramifications.

The target of reducing the State's borrowings to 3% of GDP by 2014 is unavoidable to sustain our credibility for borrowing on the bond markets. Therein lies the critical issue, in that if we are to borrow at realistic prices we do not have an option. This is frightening and is an enormously difficult position in which to be but is unavoidable. However, if we are to address this problem, it must be paralleled by specific efforts in respect of job creation. People need hope and realisation in this regard. Great potential exists in agriculture, food processing and in value-added product in food but there is much to be done in that regard. Moreover, there also is enormous potential in tourism, which is an expanding sector internationally and there is much to be done. In addition, Ireland also has great potential with regard to exporting green energy and we must continue to work towards that goal.

Finally, just as there was all-party agreement yesterday on the targets, which is an enormous advance, there should be all-party agreement and a common stated objective to protect front-line services. The needy and the vulnerable need not suffer and that if they do it will be because the cuts were misplaced and were carried out from an incorrect basis, a wrong ethic and a wrong value system.