It seems a long time since the social partners argued about division of Celtic tiger spoils in the Programme for Prosperity and Fairness.

In light of recent economic gloom, the optimism of the title of the agreement seems inappropriate. The Margin heard one office wag alluding to the more straitened times in which the economy finds itself, referring to the Programme for Poverty and Frustration.

It might seem appropriate to those losing jobs right now - but it's difficult to see it finding favour with Government spin doctors.