Jim O'Keeffe (Cork South West, Fine Gael)

I ask the Minister to provide a realistic assessment of the present situation. The election is over and I am merely asking for an assessment of where we stand. How serious is the problem? We have had evidence in recent times of quite a number of job losses and, more worrying, losses in high value sectors in which we prided ourselves on our competitiveness. How does the Minister view the present situation, taking into account those factors?

What is the current position with regard to foreign direct investment? In the past we received a high proportion of the FDI going to Europe but the percentage seems to have decreased greatly in recent times. Does the Minister accept that is a worrying trend?

Is it clear that our competitiveness is being called into question compared to others who are competing for the same jobs? A recent IBEC magazine report referred to Ireland as one of the most expensive countries in Europe for energy. Clearly, energy is a major factor in many industries. There is a problem but how serious is it and is the Government facing up to it? What measures are being taken to address the problem?

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