Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

I welcome the Minister and thank her for presentation on the Estimates. We have to acknowledge that the Government's focus in recent times has been on Brexit. We have Westminster debating various options ad nauseambut we are still unsure as to what our relationship with the UK will be hours, days or weeks from now. There is grave uncertainty and uncertainty is the enemy of investment because it undermines confidence, particularly in business. Our role is to challenge the Government on its ability to react to that. From that perspective, we need to accept that significant resources have been allocated to dealing with Brexit. Fianna Fáil will always argue that the Government should do more to assist companies, business advocacy groups, trade unions and other organisations that have a stake in ensuring the State is able to withstand the potential damage Brexit could cause. Whether we see an abrupt exit or a phased winding down of the UK's involvement in the European Union, either way we need to make sure we are Brexit ready. From that perspective, I urge companies to engage on an ongoing basis with the Department and the programmes it has established.

Fianna Fáil criticises and compliments the Government in equal measure when it is warranted. From the perspective of IDA Ireland and regional development, I have consistently tabled parliamentary questions on this issue and I always get very prompt replies from the Minister. One of the great difficulties facing the State is that a huge swathe of the economy is located inside the M50. No other country in the European Union or western world has such a dependency on economic growth from its capital city. That is evident if one looks at figures on GDP, employment, economic activity and industrial output. Dublin has been powering ahead of the regions for some time, which is bad on a number of fronts. It is bad because of the pressure this places on the capital city as it seeks to meet challenges in transport, infrastructural development, housing and other issues. In that context, IDA Ireland has a critical role to play in ensuring the policies it is enhancing and advancing attract and encourage companies out of Dublin and into the regions.

Deputies will obviously highlight the reasons they want companies to move to their areas. The Border region has had very little growth in investment from multinational companies. The midlands and south east are two other regions in a similar position. Cork and Galway are doing reasonably well, whereas other areas are not. Why are we consistently failing to encourage and develop policies that will attract multinationals out of the capital and into the regions? The pay rates companies are required to offer in Dublin place them at a competitive disadvantage vis-à-visrents and the cost of living in general versus living in one of the regions. We should further explore this area in seeking to encourage more companies to consider the option of relocating to a region. It would be easier for them in terms of pay pressures and international competitiveness if their employees were residing in areas outside of Dublin. That would be good for Dublin and the regions. The figures do not lie. There is a difficulty in this regard and IDA Ireland has to be more proactive in underpinning Government policy on regional development.

Regional development is not just a matter for IDA Ireland. We must also ensure investment is made in infrastructure, broadband, educational facilities and other areas that are required to attract multinational companies. While I welcome the increase in expenditure for capital investment by IDA Ireland, much more work needs to be done in that area.

Science Foundation Ireland is a dynamic organisation but it seems to have fallen off the radar in recent times. I wonder why that is the case. Is it overlapping with or becoming intertwined with Enterprise Ireland and IDA Ireland? The agency no longer seems to have its own identity. Why is that the case? Is it the result of its close co-operation with Enterprise Ireland or is it because it is not being proactive in promoting itself? Either way, I would like the Minister to comment on why Science Foundation Ireland does not feature as much in public discussion as it should in light of its critical importance.

The Estimates do not necessarily reflect the need for regional balance and investment. The local enterprise offices, LEOs, take a bottom up approach. We still have a difficulty with credit and access to credit. I know this is not an issue for the Estimates but it is critically important for the development of the economy and the SME sector. We have a large cost built into our credit facilities. Interest rates here are more than twice the EU average. That is a serious inhibitor to competitiveness in the economy. The problem is not only the cost of credit but also access to credit.

In assessing the competitiveness of Ireland vis-à-visthe UK and the rest of the European Union, there is still much work to be done. When we look at the role of the local enterprise offices in trying to establish and support companies to expand to the point where they achieve critical mass and make the leap from the LEO to Enterprise Ireland and internationalising, the issue of credit is bound to be a great challenge. It is not just access to markets and assessing the types of markets that are out there but how such expansion would be funded. I ask the Minister to comment.

From the point of view of capital expenditure, I welcome the Estimates. I am not being critical but we need to do an audit of IDA Ireland's lands.

I know that it does this continually. We have IDA Ireland centres that effectively do nothing, including, for instance, the one in Kilbarry in my constituency of Cork North-Central. Barley has been sown at the centre for 25 years. There are no factories there. If IDA Ireland is not going to use it, surely it should be used for something other than the growing of barley, with a yield of about three tonnes to the acre. That is not really what IDA Ireland is about. We are beginning to lose focus at of some centres that have not been prioritised in the past 20 years. They seem to have fallen off the cliff completely. Perhaps it is time to carry out a full strategic audit of what is required for IDA Ireland in the years ahead to see what its needs will be. If the land is not deemed to be suitable for industrial development, it should be disposed of for housing or to some other entity in accordance with local development plans. The Minister might comment on that issue also.