Michael Colreavy (Sligo-North Leitrim, Sinn Fein)
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Question 64: To ask the Minister for Finance the mechanisms in place to monitor and review the impact of the jobs initiative. [18616/11]

Michael Noonan (Limerick City, Fine Gael)
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The Jobs Initiative 2011 brought forward a number of sectoral measures and tax/PRSI changes. The purpose of these measures is to assist in employment generation, to provide opportunities for those who have lost their jobs and thus generate confidence in the economy. The Jobs Initiative should be viewed as one element of a wider strategy to support economic activity. The Finance (No. 2) Act 2011, which was passed by the Oireachtas in June, put into effect the changes to tax legislation necessary to implement the Jobs Initiative tax policy measures. As regards expenditure, the changes to departmental expenditure lines and profiles have been effected and will be published in a set of Revised Estimates in the coming days. The budgetary impact of the Jobs Initiative measures will be visible through the performance of Departments' expenditure issues against profile and the Department of Public Expenditure and Reform will monitor and review progress in this regard. My Department will in turn monitor the effect of the revenue measures which will begin to impact upon the Exchequer Returns in the coming months.

In relation to the sectoral measures which have been introduced, it will be a matter for the relevant Ministers and their Departments to monitor the delivery and effectiveness of the initiatives within their remit.

The Jobs Initiative is designed to support a return to economic growth and strengthen its foundations. It is of course extremely difficult to separate out the increase in economic activity that is attributable to specific initiatives. Nonetheless, the Jobs Initiative is an important part of the Government's overall strategy to establish the correct conditions to allow our economy to recover, while at the same time respecting the requirement to return our public finances to a sustainable position. Repairing the banking system is another part of the Government's strategy. If we deliver on these goals, the impact of the Jobs Initiative will be evident in the increased confidence, economic activity and, ultimately, employment levels, which we will enjoy.