March 9th 2011 marked a fresh start for Ireland.
A day when the chaos of the previous years was brought to an end.
A day when a new, stable Government took office with the promise of a better future for our country.
Today – one year on – we can report that we have a made a solid start in tackling the country’s difficulties.
The country is now starting to move in the right direction but we acknowledge that we have a long way to go.
Our first priority in Government was to restore economic and financial stability, and work to restore the international reputation of the country.
Today’s report reflects the priority attached to the delivery of our Programme for Government commitments with these aims in mind.
This is an action programme and this report today is about action and delivery.
The Government’s bank reforms stabilised the financial system – last month was the fifth month running that has seen a net increase in deposits flowing into Irish banks.
Our jobs’ initiative has helped to stabilise the employment situation, as evidenced by the latest employment data published today.
We have improved confidence in our public finances by cutting the cost of the IMF-EU Programme loans by over €9 billion and by delivering on our deficit reduction plans, culminating in the first Government bond issuance to private investors since 2010.
There are still major challenges to overcome. Despite more than halving the original bill in the bail-out programme for rescuing the banks, I recognise that the burden on Irish taxpayers is still onerous. This is a matter we continue to pursue with vigour with our external partners.
This experience is replicated right across Government. We have made a solid start in addressing the many challenges facing the country but there is a long way to go before I can stand here and report that we are fully out of this crisis.
I have met with every Minister, their Junior Minister(s) and Secretary Generals since Christmas specifically to focus on delivery and work to date on their aspects of the Programme for Government.
The first annual report of this Government being published today catalogues the solid start made to bring about Ireland’s lasting recovery.
It is an honest appraisal of what we have achieved in the first year of office and all the work still left to do.
The progress identified to date clearly shows that the Government has focused its attention in the first 12 months on the decisions and reforms needed to achieve economic and financial stability. This has helped to restore Ireland’s international standing and reputation.
All this has resulted in rising international and investor confidence, leading to a strong flow of investment decisions by multinational companies, which create real jobs for Ireland.
For the year ahead we are determined to continue to implement our Programme for Government – to create more and better jobs and to restore the public's confidence in our economy.
Job creation remains the top priority. We recently launched our ‘Action Plan for Jobs’ and ‘Pathways to Work’ plans and we will be driving their implementation over the next 12 months.
On this there is no time to waste. We have to deliver for those stuck on the dole queues or heading for the airport.
We have set hard deadlines and targets for new schemes that promote job creation.
Schemes that offer new micro business loans, attract in new business start-ups to Ireland, or provide new commercial capital investment.
On this we must demand results from ourselves, the public service and our partners in the private sector. We are in this together.
The Programme for Government charts a new course for the country.
We have spent the past year navigating a turbulent international environment to turn the country in the right direction.
Later this year, the Irish people will have an opportunity to build on this progress, and to take another step towards economic recovery, by endorsing the European Stability Treaty.
A positive result to this referendum will send out a powerful signal internationally that Ireland is committed to its membership of the Euro currency and to responsible budgeting for the future.
Such a signal, allied with the continued focus on the implementation of the Programme for Government, will bring Ireland closer to my objective of proving that, by 2016, this is the best small country in the world to do business, raise a family, and grow old with dignity.