Peter Power (Limerick East, Fianna Fail)

In the limited time I have I want to make two points. A key test as regards competitiveness has been, and always will be, employment levels. Competitiveness is always directly linked to labour supply and employment levels and almost uniquely in OECD countries, Ireland has maintained historically high levels of labour market participation and extremely low levels of unemployment. I have a final concluding remark. Surprisingly, from the Opposition benches there was no mention last night whatsoever of what is perhaps the most important factor driving competitiveness, in terms of FDI and economic growth in the last few years, namely, our corporate tax regime, which is under direct attack from some elements in Europe. These are determined to undermine that regime and there was no mention of this last night from the Opposition. We need, however, collectively to send a message to the effect that the Government is determined to resist and fight all efforts to undermine our very attractive corporate tax regime.

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