Seanad debates

Wednesday, 13 July 2016

10:30 am

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein) | Oireachtas source

In a similar vein, I ask the Leader if he will ask the Minister of State in the Department of the Taoiseach to come before the House and address the confusion and concern surrounding the latest figures issued by the CSO. Many economists have questioned not only the veracity of these figures but the usefulness of releasing them.These economic figures could potentially erode any faith in future economic announcements. They bear no relation whatsoever to the reality on the ground. The Financial Times this morning was replete with words such as "bafflement", "fiction" and "amusement". Tom Healy, director of the Nevin Research Economic Institute, compares this growth with the Soviet Union in the 1930s. The revised figures tell us that any recovery is mainly based in Dublin and heavily reliant on foreign direct investment, relocation of assets and inversion deals rather than on agriculture, services and SMEs. In examining these figures, and having listened to the Minister for Finance, Deputy Michael Noonan, yesterday, I am reminded of the months leading up to the economic crash and the words that were repeated ad nauseamthat the fundamentals of the economy were sound. The then Taoiseach, Fianna Fáil's Bertie Ahern, even suggested that those of us who questioned the economic instability should “go away and commit suicide”. We must not let this happen again and this is why I am calling for a Minister from the Taoiseach’s office to come to the House to have a full and frank discussion about the latest figures which are fantasy.

With regard to the appointment of Theresa May as British Prime Minister, although she had campaigned for Britain to remain in the EU she has been a long-time critic of the European Convention on Human Rights. Human rights legislation is key to the full implementation of the Good Friday Agreement and I would have concerns about her commitment to the extension of human rights safeguards. The North is still awaiting a bill of rights and I ask that the Minister for Foreign Affairs and Trade would remind the Prime Minister of her obligations in this regard.

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