asked the Taoiseach the contribution, if any, he will make to the discussion on the EU White Paper on Growth, Employment and Competitiveness at the Corfu Summit, on 24 and 25 June 1994; and if he will make a statement on the matter.

I look forward to contributing to the discussion at the Corfu Summit later this week on the EU White Paper on Growth, Employment and Competitiveness. I anticipate that we will also review progress on implementation of the action plan adopted on foot of the White Paper at the last European Council in Brussels in December last.

I will be particularly pleased to outline to my European colleagues the very favourable economic conditions now prevailing in Ireland due to adoption of Government policies which are fully consistent with the prescriptions set out in both the EU White Paper and the Brussels Action Plan. As the Deputy is no doubt aware the White Paper sets the achievement of stable and coherent economic and monetary policies as a prerequisite for creating the environment in which economic growth can flourish. Ireland fully accords with this prerequisite: our Government deficit is within the Treaty criterion of 3 per cent of GDP, our debt-to-GDP ratio is falling, the latest CPI figures show Ireland's inflation rate at 2.7 per cent or .05 per cent below the EU average and interest rates are at historically low levels. This stable macroeconomic environment will deliver economic growth in 1994 of about 5 per cent in Ireland compared with an average of 1.6 per cent for the EU as a whole and crucially will deliver employment growth of an estimated 23,000 or 2 per cent compared with a forecast employment decline of 0.75 per cent for Europe as a whole.

I also look forward to briefing my European colleagues on specific employment policies being pursued by the Government which are fully consistent with the White Paper strategy. For example the Government in this year's budget moved to provide special funding and tax incentive measures to encourage the development of small business and start-up enterprises and to reduce the cost of employment through a combination of income tax cuts and reductions in PRSI and levies. In addition an expansion of places on training and employment schemes has been put in place.

Turning to the Europe wide dimension of the White Paper the Summit will have before it reports of the Christopherson and Bangemann Groups dealing with Trans-European Networks (TENS) and the global information society respectively. It is in Ireland's interests as an export oriented country on the periphery that progress be made under both these headings.

I anticipate that the summit will also focus on the importance for Europe of the small and medium sized industry sector and of ensuring the full development of the Single Market to exploit the potential of this sector.

Finally it is important that the Corfu Summit ensures that the momentum created by the White Paper is maintained and that it sends a clear signal that employment growth remains at the top of the European agenda. As one who fought strongly for this priority at previous summits I will be stressing this point.