Lisa Chambers (Mayo, Fianna Fail) | Oireachtas source

I have a few questions for Mr. O'Brien and Mr. Brady of IBEC. I agree with much of their opening statement, particularly in respect of corporate tax receipts. We have discussed the unexpected and unexplained windfalls that have helped us to plug significant holes in supplementary budgets in the last couple of years. Last year, there was an overrun of €700 million in health. If we did not have these corporate tax receipts, we would have been in much more difficulty. This committee has had a lot of discussion about whether we should bank that money and use it for a rainy-day fund. The witnesses have suggested that it should be used as a strategic investment fund to ensure capital projects are delivered consistently and are not hampered by any downturns that may come. We know it is inevitable that there will be a downturn because that is the economic cycle.

I would like to pick up on what Mr. Lucey has said about connectivity. It is interesting that he mentioned this topic. Irish Rail has just opened a public consultation process with regard to the proposed extension of the western rail corridor, which involves the completion of the second and third phases. The first phase - the Ennis line - is complete and is up and running. It is doing very well, contrary to what some people may have predicted about that line. I would welcome Mr. O'Brien's thoughts on IBEC's position with regard to the second and third phases, into Athenry and Tuam and onto Claremorris. People in the west of Ireland are very keen to develop the Atlantic economic corridor and the western rail link. The connectivity about which Mr. Lucey spoke must be part of the bigger picture, which is a longer-term vision for the west and the north west. How do we connect our major cities and growth hubs? Under the national development plan and Project Ireland 2040, Sligo has been identified as the growth centre for the north west. We want the western seaboard to be connected from Galway through Mayo to Sligo and on up to Donegal. What are IBEC's views on the western rail corridor? Will it support it?