Oireachtas Joint and Select Committees

Thursday, 28 September 2023

Joint Oireachtas Committee on the Implementation of the Good Friday Agreement

Finance and Economics: Discussion (Resumed)

Photo of Frank FeighanFrank Feighan (Sligo-Leitrim, Fine Gael) | Oireachtas source

I welcome Mr. O'Brien and Mr. D'Arcy. I congratulate IBEC on its Peace and Prosperity campaign. It was very successful. Along with other Deputies and Senators, I attended the IBEC north-west annual presentation. It was all very positive. It was helpful for politicians. I ask them to keep up the good work.

There are a few aspects I want to ask about. Regarding the transmissions of economic shocks, both positive and negative, first of all, can they elaborate are they global or are they local to the island of Ireland or the particular issues that they are concerned or positive about? Regarding the absence of joined-up conversations on all-island energy futures, we all watched during the crisis last year, and even this year, the EirGrid dasboard. It is interesting to see the amount of renewables and the amount of gas we import across the island. It is useful for us all. Is there more we can do there regarding the future of all-island energy?

I like their idea regarding the shared island unit and a national infrastructure fund that would have shared capital spending. We need to look at having a fund that is not yearly but that will be for four, five or maybe ten years, that will be there no matter what happens, in recession or boom, and that these projects will at least continue to move ahead.

Mr. O'Brien stated that there is good news as well. The annual goods trade in the all-island economy is close to €10 billion in value. I welcome that. How can we grow that trade much further? I live near the Border as well. At this committee, we have had issues regarding education and the recognition of various standards relating to health, etc. There are so many opportunities. We are talking about trade, but there are so many opportunities that we can work that bit further. I am looking for the witnesses' views on that.

The witnesses elaborated on the all-island labour market. What more can we do? Is it the fact that Stormont is not sitting or are there issues on the political side in respect of which we could do a little more?

I thank Mr. O'Brien and Mr. D'Arcy for their great work. I am looking forward to hearing their views.

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