Billy Kelleher (Cork North Central, Fianna Fail)

-----this Bill is not credible and it exposes the bankruptcy of proposals, particularly of Fine Gael, which has tried to be all things to everybody other than on the occasions of the responsible position it took on the bank guarantee in September 2008. Since then it has opposed almost every measure while saying out of the other side of its mouth that if it was in Government, it would address the issue of cuts. However, we had to address the difficult budgetary deficit in recent times.

On an issue that is of critical importance and to which previous speakers have referred in this Chamber on numerous occasions, the 12.5% corporation tax is of major significance in attracting inward investment. People commenting that it could be undermined does not assist Ireland in trying to attract inward investment, encourage people to locate in Ireland or consider Ireland as a location from which to export into Europe from further afield.

Playing politics with the serious position Ireland is in the context of its vulnerability, which is still evident, as was alluded to by Deputy Fahey in his citing of an editorial of The Wall Street Journal on Ireland, is wrong. We are vulnerable but we are on the path to recovery and it will be painful.

In terms of restoring competitiveness in the economy, competitiveness is a word that camouflages the difficult positions in which people find themselves with falling wages and rising unemployment, but it is essential that we ensure there is competitiveness in the economy in all areas, not only by way of a reduction in salaries and wages but also by ensuring efficiencies at Government, agency and local authority level and across the private sector. They are key areas in which we must continually ensure there are efficiencies. The energy sector is also critically important in this respect.

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