Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 186: To ask the Minister for Finance if he has read the National Economic and Social Council paper, "Ireland's Economic Recovery - An Analysis and Exploration"; and if he will make a statement on the matter. [24753/11]

Michael Noonan (Limerick City, Fine Gael)
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The report to which the Deputy refers was published on 27 July this year by the Secretariat of the National Economic and Social Council. It was not published under the Council's name, and therefore the views expressed in it are those of the authors and do not represent the collective view of the Council. For this reason it was not subject to a Government decision prior to publication. However, in accordance with the usual practice for NESC papers, it has been disseminated within, and examined by, my Department. The paper provides an account of how four years into the crisis, the Irish economy has begun to show tentative signs of recovery, before going on to set out the changing policy positions of both supporters and opponents of the EU/IMF programme of Financial Assistance. It is generally positive in tone, and is largely in line with the views of many commentators and analysts.

In support of its argument that there are some signs of an economic recovery (albeit a fragile one) it cites rising exports, a recovery in investment, falling costs, a slowing of employment contraction and growth in the net financial worth of households (excluding household assets).

The NESC Secretariat also outlines five related "elements" that it says are necessary for the EU/IMF programme to work. These are that Ireland should -

(i) continue fiscal adjustment and reform, by achieving a balance between expenditure and revenue measures;

(ii) "work relentlessly to revive sustainable growth";

(iii) "make social solidarity a core concern to ensure fairness and unity of purpose";

(iv) "address developmental constraints which have the potential to undermine the long term recovery of the economy and society"; and,

(v) "work to promote a comprehensive EU and international financial resolution".

I consider that the paper represents a fair assessment of Ireland's economic progress over the last four years and that it provides support for the Government's policies to secure recovery.