September Blog

I am off today to Westport for our annual two-day Parliamentary Party ‘Think- In’. This event marks the definitive end of holidays and focuses on the year to come. The next six months will be very challenging but I am convinced that if we hold our nerve and continue to work through our mandate to sort out the Country’s finances, reputation and unemployment problems, the people will support us. Not only that, but next year we will have growth in the economy that will continue in the following years. We have established the ‘Two- Pillar’ Banks are beginning to deal effectively with personal indebtedness and have made tentative moves towards getting normal credit flowing again.

I am very happy that Job Creation is the major theme of our conference. With 30% Youth Unemployment we run the risk of creating a lost generation. Apart from the enormous human implications, every job created takes €20,000 off the annual Social Welfare Budget. All of the vital and painful reduction of debt as a percentage of GDP must have, as its ‘raison d’etre’ and end result, new jobs. I look forward to our sessions on Job Creation. It is encouraging that we have a significant increase in Job Creation by the private sector this year. That needs more momentum as does Job Creation through vital infrastructural developments.

The markets have responded favourably to last week’s initiative by the ECB. That is really encouraging. During our EU Presidency next year we must seek a Euro Wide Jobs Initiative. A salvation to the promissory note issue over coming months will greatly assist our domestic economy.
I am proud of the success of this Government over a range of indicators. Our collective and individual metal will undoubtedly be tested this winter. If it comes to it we will have to be prepared to forgo short-term popularity in the interest ultimately creating jobs that are so badly needed.

Senator Joe O'Reilly representing Cavan & Monaghan 2010. | An ExSite website