Phil Hogan (Carlow-Kilkenny, Fine Gael)

I acknowledge this morning's announcement regarding the creation in Ireland of 500 jobs by Google Incorporated. This constitutes a major boost to the Dublin region's economy, as well as a welcome boost to the IDA in its efforts to attract foreign direct investment. However, it coincides with some concerns articulated by the OECD report. The Minister does not appear to believe the OECD and asserts it is selective in its interpretation of the figures pertaining to Ireland.

Has the Minister ever heard of a document called the European Investment Monitor report for 2006, which was produced by Ernst & Young? It is a leading company with a database that monitors investment and its origins throughout Europe. Its report states that although foreign direct investment into Europe increased by 5% in 2004, Ireland lost foreign direct investment that year, as it did last year.

As the proportion of investment to Europe increases, the position of Ireland declines. It reported a reduction of 11.8% in foreign direct investment to Ireland last year at a time when foreign direct investment into Europe generally increased.

I wish to ask the Minister some questions. What figures, and from whom, does the Minister believe? From what reporting mechanism does he derive his figures? On what basis does he believe figures? Has he ever heard of the European Investment Monitor report and was it ever brought to his attention? Does he have concerns regarding its comments in respect of manufacturing employment or future foreign direct investment, particularly from the United States?

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