I would like to raise the significance of a report produced by the Economic and Social Research Institute just last month. The report is the first to consider annual economic surveys and to assess economic trends across Ireland using comparable data and it is a very robust piece of work. There is much that can be learned from it and the significance for policy formation across the island should not be underestimated. It is the first time policymakers North and South will have access to a shared and consistent evidence base on economic outputs, labour markets, incomes, living standards and public finances. This is important because good decisions depend on good data and until now such data did not exist in a comparable form.

The findings are positive and they also highlight challenges and areas for future work and collaboration. Both economies record growth in economic output, with the North growing by 2.8% and the South by 3.2%. In an uncertain global environment of political instability, that points to a resilient all-Ireland economy and suggests that when we work together, it can translate into positive outcomes and results for our workers, our communities and the economy. For too long, the North has been viewed by some in this jurisdiction as a potential economic drain on the finances of this State. The report shows that this does not have to be the case. In the North, the economy minister, Caoimhe Archibald, is helping to turn the economy around, delivering for people in the here and now while also working for the constitutional change required to really turbo-charge the all-Ireland economy. Her good jobs Bill will focus on creating good and well-paid jobs and, importantly, will protect employment and workers' rights.

The ESRI annual survey provides a foundation for more informed debate, better policy-making and stronger co-operation. It is a resource we should all fully use. It is about co-ordination and planning across the island and good alignment, and importantly, it is also about better outcomes for our people and communities and an economy that works for those priorities. For the first time, we will have the ability to monitor trends in our shared economy and also track reactions to policy interventions. This is an exciting development for economists and has the potential to have a real impact on citizens' lives into the future. I commend it to the Seanad.