James Bannon (Longford-Westmeath, Fine Gael)

Ireland is currently on the high road to nowhere unless investment is urgently put in place to counteract infrastructural deficits, and if our economy is to retain its competitiveness. According to the latest global competitiveness index, compiled by the World Economic Forum, Ireland's infrastructure was ranked poorly at 47th and is the most problematic factor for those wanting to do business in Ireland. The report ranks Irish ports as low as 64th best in the world, roads at 60th and rail infrastructure as low as 55th. Traffic congestion is costing business more than €2.5 billion per year.

Ireland's share of world trade has been declining since 2002 and as a result net exports, that is exports less imports have contributed virtually nothing to national economic growth since 2003. In a huge blow to Irish competitiveness, our inflation rate is growing at a rate of 38% faster than the rest of the Eurozone.

According to the Sunday Independent,"Messrs. Cowen and Ahern are master muddlers". I would be inclined to say "experts at muddying the waters". The Government's election manifesto was based on miscalculated growth targets, but we are told that we should not be afraid as what was promised will be recycled and repackaged for the next two or three years, or hopefully less in the short lifetime of the current Government.

The inescapable fact is that Ireland's competitiveness is foundering on the shaky foundations of our substandard infrastructure. Rural Ireland is suffering continuing job losses as demonstrated by the loss of 500 jobs in Abbott's in Galway and 32 in Longford yesterday. With further manufacturing job losses likely and agriculture also set to be hit, unbalanced regional development policies need to be changed. The Government cannot stand idly by and allow rural Ireland to become more economically depressed.

The past ten years will be regarded as a wasted decade. A debt fuelled property and construction boom has provided unprecedented resources to the Exchequer but they have been largely squandered by the Government and a Minister for Finance with no thirst for reform but a huge appetite for reckless spending.

The Government and Eircom have been jointly responsible for an appalling performance in the delivery of broadband services across the country and particularly in Longford-Westmeath.

Rural Ireland is losing money, time, jobs and investment and cannot afford further Government mishandling of the telecoms sector. The inadequate investment to date in broadband roll-out, rail and road infrastructure and waste disposal, is placing a heavy burden on businesses in the form of higher costs.

I have no doubt that the multitude of taxes and levies imposed by the Government has raised the cost of production and depressed jobs. What is needed is an industrial strategy and that is not evident in current Government policies. This is the general principle that has served this country well since Alan Dukes' Tallaght strategy of lower taxes and higher skills. I have much more to say if time permitted. The Government should be ashamed of itself for the way it has performed during the past 11 years——

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