Leo Varadkar (Dublin West, Fine Gael)

It is interesting that the Tánaiste referred to the enterprise stabilisation fund. The proposal, as she outlines it, is similar and will assist the same sort of companies as are already assisted by the enterprise stabilisation fund. That fund is only barely in existence and it is too soon to know whether or not it is effective. I am concerned that the Government is basing a new scheme on one which is only a few months old.

I understand the new scheme will cost approximately €250 million, coming from the surplus in the training levy fund, and will only benefit exporters in the manufacturing or internationally traded sectors. Given that the scheme is restricted to that sector, only a small number of workers will benefit from it. People in construction, services, retail and other sectors will not benefit. Only a small number of business and workers will benefit but all workers and businesses will have to pay. Could that €250 million not be more effectively used to do some of the things Fine Gael has proposed, such as reducing both rates of VAT, abolishing the travel tax and introducing an exemption from employers' PRSI for employers who take on new staff? Such a measure would benefit all businesses, consumers and workers and would save more jobs. The Government's targeted subsidy approach will only benefit a small select area.

See this speech in context