Mr. Seamus Coffey:

All of the factors the Deputy refers to are very important and significant in the Irish economy. I am not sure I would categorise us as being overly dependent on foreign direct investment. It is clear that we are benefiting from the model that is in place. If there were over-dependence, would one reduce the level? With what would one replace it? The benefits that are accruing are large, and there is no doubt that there are risks associated with that. The simple fact that we are depending on them suggests they are positive and quite large. Admittedly, they are having an impact on our national accounts and GDP, but a couple of hundred thousand in employment and large tax payments point to a price worth paying. If the price is distorted GDP figures and we are getting employment and tax revenue, I will take that every day.