Richard Bruton (Dublin North Central, Fine Gael)
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I know that is what the Deputy is saying. A balance is being run in all these areas. Our best market for Enterprise Ireland companies is probably Germany and France but we would be short-sighted to focus on those because we have to build new markets. It is a question of striking a balance.

On Deputy Tóibín's point about tax breaks, Ireland has an offering which is less and less about tax. Tax is a part of a much wider story. Mr. Barry O'Leary talks about the four "Ts" - track record, talent, tax and technology - and, increasingly, it is the human resource, the technology and the know-how that is attracting companies here. Many companies come here without any grant aid whatsoever. There would be a very significant number where grants are not being paid. They come here because of what they have already experienced.

The Deputy raised the point that export numbers have recovered more quickly than employment. There is no doubt there have been big productivity gains in many sectors during the recession. Our unit labour costs are down by 20% because there has been reorganisation. People have become more efficient but we have rebuilt our export market, and Enterprise Ireland added approximately 3,500 jobs last year. We are seeing expansion from that market, therefore, and there is the knock-on impact.

Regarding the figures on the FDI stock, I confess I do not know what exactly that inward stock measures but in terms of the suggestion that there has been a decline in the inward investment stock, it certainly is not reflected in the number of people employed in foreign-owned companies. It may refer to portfolios investment but I will have to-----