Richard Bruton (Dublin North Central, Fine Gael)
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No, it has nothing to do with that. The TTIP negotiations make no difference. The concern is that businesses may move to lower-cost energy sources. TTIP has no relevance in that regard because it only changes tariffs. However, the tariffs in this case are extremely low. Reducing a tariff from 2% to 0% would be neither here nor there in terms of competition if it is possible to avail of energy prices elsewhere that are a half or one third of those that obtain here. It is not that TTIP could trigger any change in industry location; it is, rather, the sheer difference in prices. That is a concern in Europe and it is why there is a focus on how we might facilitate a renaissance of industry in Europe and on identifying the sources of competitive advantage we can develop around technology, skills, niche sectors and the application of key enabling technologies. That is where the debate lies in Europe. TTIP is not really a significant new source of vulnerability for high-energy-using manufacturing industries in Europe.