Mr. Fergal O'Brien:

We have already had an extensive conversation about the risks associated with corporate tax receipts. We believe the forthcoming budget has to stop the pattern of recent years. This money needs to be put aside for strategic investment in infrastructure, education and innovation.

Deputy Chambers asked a specific question about regional infrastructure. I share Deputy Broughan's sentiment that we need to build a world-class city. The reality is that Dublin operates in a different division and needs to be funded at that level. As a national organisation, IBEC believes that too much of this country's economic activity takes place inside the M50. Over 40% of the country's economic activity is happening inside the M50. This is suboptimal for Dublin and for the entire country. For a number of years, we have been advocating an ambition that we should be planning for an all-island population of 10 million people. Much to many people's surprise, the population of this island has hit 7 million. When one rounds up the numbers, one will see where the all-island population has gone to. This is becoming an island of scale. It is a challenge to make sure the all-island economy is preserved. It is becoming a market of scale. Most businesses in construction and other sectors view the all-island market as a single market. That is the way business predominantly works.

We believe there is a real opportunity to develop the Atlantic economic corridor as a counter-balance to Dublin. Some of it is already becoming a reality. We have spoken about the initiatives we have seen in Limerick about how that city is developing. We see the connectivity piece from an employers' perspective. Now that Limerick and Galway are connected by motorway and the travel time between them has been reduced to less than 60 minutes, the labour market dynamic between those cities has changed completely. We can see people in Galway commuting to our companies in Limerick on a daily basis. We need to make sure that commuting is of a more sustainable nature in the future. We will still need the road infrastructure. Our priority for the sequencing of projects is to make progress with a really ambitious Atlantic economic corridor that connects Dublin, Limerick and Galway and extends the whole way up the coast and all the way around to Belfast. This kind of C-shaped ring will make the all-island economy a reality. Rail will have a role to play within that, but we need to get the road infrastructure delivered. Many of our members want opportunities to move commercial and industrial products by rail. I think this approach will bring us some options, particularly in the context of climate challenge. Investment in rail, including the electrification of rail, must be part of the solution. Our ambition for supporting the western arc, particularly the Atlantic economic corridor, is incredibly strong. The members of our national organisation want to see a greater spread of economic activity. We cannot do this without investment.