Dáil debates

Wednesday, 29 September 2010

 

Cabinet Committee on Economic Renewal

4:00 pm

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)

I had a list of many of them. I take it that they are various points of view that have been put forward, but the point I want to make to the Deputy relates to the targets that are set out. These are targets that are not mentioned specifically in the report that was launched yesterday. "Making it Happen" is a report from the IDA, which set out its view of what it can deliver for the country between now and 2020. The IDA has been indicating that even last year, for example, Ireland got more foreign direct investment to its shores than Britain did, and Britain is 20 times our size. There has been a successful diversification of the Irish economic base during the good times which has stood us in good stead.

While there has been a debacle in the domestic retail banking sector it is interesting to note that in the International Financial Services Centre area employment has been maintained in the main and continues to grow in certain sectors. The figures mentioned in this documentation refer back to the State agencies' policy positions. The 780 inward investments that the IDA expects in the coming five years are based on its own projections, experience and pipeline proposals and is predicated on growth in the world economy which has returned this year and is expected continue.

When I hear the Leader of the Opposition stating that the spirit of the nation is broken, there is no future, there is no hope and it is time to close the door, if that is the sort of leadership that people want provided, maybe they should listen to Deputy Kenny or Deputy Gilmore.

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