Brian Cowen (Laois-Offaly, Fianna Fail)

During the period referred to by the Deputy, 2002 to 2006, there was a reduction of 31,000 in manufacturing jobs but the economy created 250,000 jobs during the same period. The net benefit to the economy was in the region of 220,000 jobs and this is a significant indicator of overall competitiveness in the Irish economy. Ireland is still regarded as a suitable location for inward investment and new businesses in the indigenous sector due to increased demand, higher incomes, a bigger labour force, tax reforms and greater domestic demand. Other major European economies have been trying to create such a scenario for many years.

It is true that there has been turbulence in the energy markets relating to oil prices and so on. Independent regulators have been introduced to Irish utility markets that were previously monopolies. Competitive structures have come about through the appointment of regulators. Turbulence in the oil market has caused significant increases in electricity and gas prices and the regulator is examining ways to reduce the regulated price over a period, rather than leave it as it is.

Broadband coverage has increased from 63,000 to more than 500,000 subscribers since and prices have dropped in line with EU standards.

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