Brian Cowen (Laois-Offaly, Fianna Fail)

The idea that we do not have an economic strategy is nonsense. This does not happen by accident. It occurs because we make the right choices. It is true that the Deputy's former leader made an application for a 12.5% corporation tax rate. The work done by Deputy Harney and the former Deputy, Mr. McCreevy, on the application when this Government came into office, as well as the subsequent budgets which were opposed by the Labour Party, enabled us to bring the rate down to 12.5% in three or four years. Sending a letter to the European Union notifying it of the Government's attention to lower the rate to 12.5% does not make the Labour Party a low tax party.

We have a very clear economic strategy. The report entitled Ahead of the Curve was adopted by Professor Eoin O'Driscoll who chaired the group on developing Irish enterprise and on ensuring that the indigenous sector makes its contribution and identifies winners for the future.

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