Andrew Doyle (Wicklow, Fine Gael)

I welcome the chance to speak on this Private Members' motion. I compliment Deputy Coveney on introducing it. I sincerely believe that over the next four or five years, the manner in which the world prioritises the development of a model of producing energy, infrastructure and food will become a prime economic driver in itself. It will become a whole new economy. Although one might wonder when one hears Government Deputies speaking on it, this motion sets out to identify and recognise shortages in this country's infrastructure. It was introduced by this party's spokesperson on communications, energy and natural resources, rather than by our spokespeople on food or agriculture. It was discussed by the Fine Gael Parliamentary Party, which considers that food is a whole new area. The Minister for Communications, Energy and Natural Resources, Deputy Eamon Ryan, has accused us of trying to create a massive quango. The Minister of State, Deputy Trevor Sargent, has argued that we are not making it big enough. They might be better advised to concentrate on what this motion is trying to do.

This motion identifies the infrastructural deficit that exists and proposes the establishment of a company. The Minister, Deputy Eamon Ryan, missed the key point about the establishment of this company when he referred to the six sub-companies that will be commercially run. They will not be run in the way State companies were run in the past. When I watched the Minister on my monitor, it was clear that he did not understand that key point. Instead, he chose to ridicule the main company by referring to it as a "super quango". The motion also sets out how the development of infrastructure will be funded. We are proposing to take money from the National Pensions Reserve Fund and to get private investment through a public bond. The aim of this proposal is to get the mattress money back into the system.

It is recognised and acknowledged that people have lost confidence in places where money can be invested. Many people have cut their losses, taken the money out and put it somewhere safe. Their money is no longer invested in a stock, a bond or a bank. We are proposing the establishment of an alternative location for such funds. Such investment has the potential to create 100,000 jobs. We should not lose sight of the fact that the proposal relates primarily to infrastructure. One of the benefits of the proposal will be the creation of up to 100,000 jobs. It is not as if we are aiming to create 100,000 jobs — while that is a key part of our proposal, it is not our primary motivation. Infrastructure needs to be developed if we are to have a vibrant economy once more.

I was heartened to see four Green Party Deputies come to the House to speak on this motion. Members on this side have been continually asked to make creative and constructive proposals. Fine Gael has endeavoured to do that. Over the next couple of weeks, I look forward to hearing Government Deputies try to take the proposals outlined in Fine Gael's new health Bill asunder, just as they have attempted to take this measure asunder. When we tried to rationalise the number of Ministers of State, people like Deputy Thomas Byrne ridiculed our proposal and called us "fools". We were told it was a token gesture, but the proposal had been taken on board, generally if not entirely, within two weeks. I anticipate that much of what is in this proposal will be adopted as Government policy within a couple of weeks. The Government will hope that people will have forgotten that Fine Gael proposed it in the first instance. If that is the way it has to happen, so be it.

The last part of this motion calls on the Government to open "a real and constructive dialogue with the opposition on how best to proceed with developing the Irish economy via investment in much needed new infrastructure". Contrary to the Government amendment, we do not want "to continue to invest as planned in those infrastructure priorities that will ensure economic recovery". While broadband, which is the focus of the Government amendment, is essential, the infrastructure deficit in many other areas will have to be addressed if our economy is to be reconstructed and move forward. That will be the priority for the global economy. The saddest part of it is that Ireland probably has the best potential on the planet for exploiting those possibilities to the benefit of everyone.

See this speech in context