Dáil debates

Wednesday, 6 February 2008

Finance Bill 2008: Second Stage (Resumed)

 

6:00 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)

Members should be clear that this should not have happened. It has been brought to my attention by investors in my constituency and gives me no pleasure to state that unless we check, challenge and address the issue of competitiveness in the economy, both manufacturing and service industries will suffer. As the Minister is aware, such enterprises are relocating on a regular basis to more competitive economies and state openly that this is what is happening. It is now imperative that the lending institutions, the financial services sector, the Department of Finance and the Central Bank come together to find out how best to address the issues that now are cause for concern.

While the Minister may state it is easy to make this point in hindsight, some Members have been making this point for the past five or six years. Whenever one mentioned such issues, one was regarded as being unpatriotic for suggesting the taking of steps that might have improved the position. The country is going through a test at present. This is a test for the Minister, who is capable of facing any test. The question of how to deal with the unfolding economic situation also constitutes a test for the Government and the people. While it can be surmounted, doing so will take a great deal of determination and guidance from those whose responsibility it is to give such guidance.

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