Bernard Durkan (Kildare North, Fine Gael)
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Question 144: To ask the Minister for Finance the main pillars in his plan for economic recovery over the next ten years on an annual basis; and if he will make a statement on the matter. [6567/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As the Deputy will be aware, the Government has put in place a plan to restore balance to the public finances by 2013. This includes as a priority the elimination of the current budget deficit and bringing the General Government deficit to below 3 per cent of GDP by 2013. The indicative annual adjustments needed to meet this are set out in the Addendum to the Stability Programme Update published in early January.

Capital investment relative to national income remains high, which in the short-run will stimulate the economy and will over the longer-term enhance the productive capacity of the economy and ensure future improvements in living standards.

In addition, the Government's package of measures for the Irish banking system, including significant steps to maintain the stability of the financial system and those taken under the recently announced recapitalisation initiative, will serve to stimulate credit supply and consequently economic recovery.

The Framework for Sustainable Economic Renewal launched by the Taoiseach last December sets out our agenda over the next few years for how we will re-orientate and reprioritise the business of Government to achieve the goal of building a Smart Economy, which will help underpin our future.

The policies now being pursued are being implemented against a backdrop of economic uncertainty both at home and abroad. The absolute priorities are maintaining stability in our financial system as it is vital to a fully functioning economy and society, the restoration of order to the public finances and improving competitiveness.