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●●●Recasting Ireland’s Consistent Policy Framework for the Coming YearsIt will not work, because competitiveness cannot be sustainedfor long if infrastructure, R&D, utilities and a skilled flexibleworkforce are not available;It will not work for long as a distributional settlement becausewage earners will continue to face high prices, poor services,expensive housing and long commuting times;In consequence of these three, it will not work as a publicfinance strategy, because government will be under short-termpressure from all sides and will not have up-graded theproductive potential of the economy or the public service byappropriate supply-side measures, thus weakening its long-termbudgetary position; and● It will not work as social partnership, since it would not besocial partnership, merely an old-style tri-partite deal of the sortthat failed through much of the 1960s and 1970s. Partnershipinvolves not only consensus, but also recognition of necessarychange.Consequently, a consistent policy approach must include a vigorousprogramme to improve structural and supply-side factors.4.2.2 Redefining the Content of Macroeconomic, Distributionaland Structural ApproachesThe Council’s proposals on macroeconomic policy are outlined inChapter 5 below. The two key problems addressed there areinflation and the public finances.The distributional issues addressed in the Strategy are:● Wage bargaining;● Poverty, exclusion, inequality and welfare; and● The broad parameters of social provision, especially on health.The Council’s views on wage bargaining are outlined in Chapter 6below.175