Vol. 574 No. 1
237 Mr. Durkan asked the Minister for Finance if he has satisfied himself that the partnership agreement will adequately protect the economy and standards of living; and if he will make a statement on the matter. [26101/03]
I am satisfied that the partnership agreement Sustaining Progress provides an appropriate basis, as its terms state, to sustain economic growth, maintain high levels of employment and secure living stan dards for all, while at the same time strengthening the economy's competitiveness and its capacity to resume trend growth in more favourable international conditions.
I cannot overstate the importance of competitiveness. Sustaining Progress identifies the renewal of competitiveness, both domestic and international, as central to the achievement of our macroeconomic objectives. It is vital that we bring our price and cost increases down to EU levels with the least possible delay and that wage increases are limited to those set out in the agreement if we are to be in a position to compete in global markets. A second progress report on the implementation of the agreement was recently laid before the Houses of the Oireachtas.
