Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

It is not where I come from in the midlands. If anything, it is accelerating. New house construction accounts for 13% of our gross domestic product. Anybody with family or relatives buying a house will say it was inappropriate that house prices were increasing at a rate of 20% per year. What was to happen to young people who wanted to get a house for themselves? Prices were so high that they had no opportunity. I welcome the slowdown in the increase in house prices, as do many around the country, including young people setting up home for themselves.

In June 2006, the Governor of the Central Bank and Financial Services Authority of Ireland indicated that a readjustment was needed and confirmed to the Joint Committee on Finance and the Public Service last week that it is now taking place. These were his words and not those of the Minister for Finance or a political commentator. I accept that there is obviously a fallout in terms of employment in the construction sector and there will probably be a consequent increase in unemployment. The governor indicated that the number of unemployed could increase by 20,000 or 25,000 and that inflation may increase to 5%. These are facts of life.

Let us consider the responses to economic conditions in the United States and the European Union. I was in Brussels at a meeting on finance only a couple of weeks ago and there were individuals present who were pushing the president of the European Central Bank to respond to what was happening in the United States. I am glad to say the president has a cool head, just like that of the Minister for Finance in Ireland. The president said his first priority was to control inflation on behalf of the citizens of the European Union. That is a good position to adopt.

In terms of support for enterprise and innovation, I welcome the proposed developments in Cork and Limerick. However, I hope the Minister for Finance will address the matter of the proposed tax corridor for the lower Shannon region, which is not mentioned in the Bill. I am a great supporter of this proposal, which was announced some months ago, and I hope it will be implemented. It offers major advantages for counties Westmeath, Roscommon, Clare, Limerick and the entire Shannon region. The opportunity is there, under this proposal, to offer a boost to tourism in the area.

It is sometimes forgotten in this debate that the Minister for Finance, in his budget, Book of Estimates and Finance Bill, has maintained the capital budget for infrastructural development. This is particularly welcome. In my county alone, €55 million has been allocated for national roads this year.

I understand a charities Bill is being drafted, but I am still not satisfied that we are up to speed with what is happening in other European countries in terms of offering incentives to those who wish to support charitable causes. I ask that the Minister examine this issue. There are wealthy people in this State who are prepared to offer their support. I do not want to see a situation where that investment may go to other countries because some of these people are not resident in the State.

My last two questions are relevant to the Minister for Communications, Energy and Natural Resources. First, I fail to understand why the roll-out of broadband has been put on the back-burner by his Department as far as rural areas are concerned. Second, why has the grant for energy efficient homes been withdrawn? It makes no sense that 1,500 houses have been excluded from the grant system at a time when we are promoting energy conservation.

I do not wish to be negative but rather to be fair and practical in my comments. I have been consistent in this regard throughout my time as a public representative. We must address matters that are important to us and to our constituents. We should never shy away from speaking up, whether we are in Government or Opposition, on issues important to the public. I always believed that. People in this House and elsewhere will respect us so long as we are consistent in this regard.

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