Bernard J. Durkan
Question:94 Deputy Bernard J. Durkan asked the Minister for Finance the steps he will take to stimulate the economy; and if he will make a statement on the matter. [12736/09]
View answerThursday, 26 March 2009
Questions (94)
Written answers
In broad terms, there are three strands to the Government's approach to stimulating the economy. Firstly, we are putting the public finances on a more sustainable path, in order to restore domestic and international confidence in Ireland, thereby promoting Ireland as a sound place in which to invest. Secondly, 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.
Finally, we are implementing measures to restore competitiveness. For instance, we are maintaining capital investment at relatively high levels of national income. We have also introduced a pensions levy in the public sector which, in addition to helping re-balance the public finances, will have a positive impact on national competitiveness.
More generally, the Framework for Sustainable Economic Renewal launched by the Taoiseach last December sets out our agenda over the next few years of 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.