National Recovery Plan 2011-2014 - Full text

This Plan provides a blueprint for a return to sustainable growth in our economy. It sets out in detail 

the measures that will be taken to put our public finances in order. It identifies the areas of economic 

activity which will provide growth and employment in the next phase of our economic development. It 

specifies the reforms the Government will implement to accelerate growth in those key sectors. 

Reducing the budget deficit will not, by itself, solve our economic difficulties.

We must build on our strong export performance by improving our competitiveness. We must enhance our productive 

capacity by maintaining investment in key infrastructure projects and in education. We must remove 

barriers to employment and ensure that those who have lost their jobs are retrained and are ready to 

take up employment as the labour market recovers.

This Plan sets out the key reform measures the Government will take to return our economy to a sustainable medium-term economic growth path. 

The Plan will help dispel uncertainty and reinforce the confidence of consumers, businesses and of the 

international community. The tax and expenditure measures contained in this Plan will negatively 

affect the living standards of citizens in the short-term. But postponing these measures will lead to 

greater burdens in the future for those who can least bear them, and will jeopardise our prospects of 

returning to sustainable growth and full employment.