The leader of the Labour Party, Mr Ruairi Quinn, has called for a "decade of investment" so Ireland can become the most competitive and fairest economy in Europe.

Speaking to Dublin Chamber of Commerce, he warned that failure to put a comprehensive investment programme in place would lead to a two-tier society with a massive gulf between rich and poor.

According to Mr Quinn, for the first time in our history Ireland has the resources and wealth to eliminate poverty and create full employment for all those seeking work between now and the year 2010.

The £14 billion programme would rely on money from the Exchequer as well as pension funds, a combination of public-private partnerships and the dividends from the sale of State assets already scheduled by the Government.

He added that Labour would advocate an investment programme which would focus on education, infrastructure and health.

Education and training systems needed substantial resources to consolidate our prosperity and to ensure there was a high level of skill in the workforce, according to Mr Quinn.

A major infrastructural investment programme in the transport network, housing, sanitary services an environmental protection systems was also needed, he said.

Improved health care would also need to be developed to deal with the growing needs of an ageing population.

Mr Quinn also warned that social partnership would have to evolve if it was to survive.

"Workers can no longer be expected to stand by while profits rise and corporation tax falls," he said.

"The rise in house prices is putting considerable pressure on workers earning average incomes and tax reform aimed at the lower paid and real profit sharing will be necessary to convince workers of the need for another national agreement."