Oireachtas Joint and Select Committees

Tuesday, 26 February 2013

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Action Plan for Jobs 2012 and 2013: Discussion with Minister for Jobs, Enterprise and Innovation

2:35 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

It will probably be a committee consulting with the stakeholders rather than having de facto stakeholders on it.

If so, it will be a group to analyse what we can do across Government, much like what we have done in other areas. The licensing review, for example, was done internally.

The construction sector is a very important one, but it got too large during the boom. It went up to unsustainable levels and, as has been said, we have lost 160,000 jobs in that sector. At this stage, however, it is below its natural position. The hope would be that the sort of initiatives the Minister for Finance is taking, including the latest real estate investment trust and stamp duty reforms, will restore confidence. The job creation that comes through exporting IDA activities involves significant construction projects that are now coming through. We clearly need to develop a strategy for this sector but it is not as simple as spending more money and the job is oxo. As the Minister of State, Deputy Perry, said the other day, it is about examining the capacity to internationalise. Irish expertise is really effective and is doing well abroad. I have seen it working in India, for example.

I think I have answered all the questions that were raised.

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