Ruairi Quinn (Dublin South East, Labour)
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Question 11: To ask the Minister for Finance if he will make provision for a substantial debate on the economy before the Dáil summer recess; and if he will make a statement on the matter. [25623/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Given the scale of our economic and financial difficulties, debate on the economy and the financial system has naturally dominated proceedings in the Dáil over the past two years. This week alone, the debate on the confidence motion was essentially a debate on the Government's economic policy.

The arrangement of a debate such as the Deputy suggests in his question is a matter for the party whips. If the Dáil Schedule allows it, I would have no difficulty with such a debate. Indeed, I would be particularly interested to hear the Deputy's proposals for stabilising the public finances so as to restore domestic and international confidence in our economy; regaining competitiveness to create jobs; and repairing our banking system to provide credit for viable businesses.

These are the key pillars of the Government's strategy to return our economy to a sustainable growth path.

Most of the latest data suggest that the economy is stabilising and many commentators now expect growth to resume in the second half of this year. So the measures we have taken are beginning to bear fruit. We cannot be complacent, however. We still have many challenges ahead, particularly in relation to the public finances so that we can reduce the General Government Deficit below 3 per cent by end 2014.

We also continue to advance our strategy to repair the banking system. A key objective of recent Government actions in relation to the stabilisation of the financial sector has been the promotion of a stable and active banking system which supports the real economy. At a fundamental level the banking system is at the very core of a functioning economy and needs to be maintained in the interests of the economy and society at large.

The Government's entire economic strategy is ultimately about creating sustainable jobs. We are working to position Ireland as a global innovation hub - the best place for both multinational and Irish companies to start, grow and transform. These initiatives introduced by this Government will lay the foundations for future employment growth. We are also developing opportunities in the green economy, renewable energy and clean technology.

A key component of the Government's jobs strategy is to regain our competitive position which is critical to our future economic prospects. Our economy is flexible and resilient. Price levels and wages - including those for the public service - are all adjusting rapidly to the new circumstances and are contributing to an improvement in Ireland's competitiveness. We have also made significant investment in areas such as productive infrastructure which will enhance our competitiveness and capacity to grow. A high level of capital investment in critical infrastructure is being maintained which will help support the economy and jobs.