Micheál Martin (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

225. To ask the Minister for Finance his views on the medium-term economic strategy plan; and if he will make a statement on the matter. [2196/14]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The overriding objective of the Medium-Term Economic Strategy (MTES) is to provide the framework for sustainable public finances over the period to 2020, the achievement of which is a pre-requisite for growth and stability in the future.

The rationale for such a framework stems from the need to ensure discipline and maintain market confidence in the post-Programme environment.

The MTES involves a three-pronged approach for jobs-rich growth, namely:

- budgetary discipline

- improved access to finance

- structured reforms to boost growth

The MTES provides for an overarching high-level and integrated whole-of-Government framework designed to drive the development of appropriate sectoral and horizontal policies. When they are reviewing, updating or publishing new strategy statements or plans, Government Departments will have to ensure they are aligned with the MTES.  This coherence will be obvious most immediately in the new Action Plan for Jobs to be presented shortly to Government for review and approval.

The MTES is about ensuring that mistakes of the past are never repeated and as such, will play an important role in delivering sustainable improvements in living standards for all in Ireland.