Marc MacSharry (Fianna Fail)

The Minister of State said the Minister for Finance's announcement of the results of the stress tests was the thing of which he was most proud. However, it is important to note that the previous Minister commissioned Black Rock Consulting to undertake the stress tests. As I said on the Order of Business, the new Government parties have started with great commitment and they have the genuine goodwill of the people and, Fianna Fáil people behind them as they set out to seize opportunities to help us recover from the difficult position we are in

Fianna Fáil broadly supports the Government's banking strategy. Exports are performing positively and the foreign direct investment sector performed strongly last year. Various surveys show Ireland is among the easiest and best placed to do business and business sentiment is stabilising. We have a highly educated workforce, employment growth in manufacturing was stronger last year than for the previous ten years, Exchequer returns were broadly on target, as the Minister of State said, and recent data highlight that in 2009 investment in research and development was higher than in previous years, notwithstanding that significant work still remains to be done.

The Nyberg report was published yesterday and it is appropriate that the new Seanad debate it during its first or second sitting. I am sure Senator Coghlan who is home and dry in an electoral context, as has always been the case, will see to that on the Order of Business during the first sitting day.