Ulick Burke (Galway East, Fine Gael)

No, but the situation is serious and I ask the Minister of State to redress it. Many people have been innovative because of the incentives provided up to a maximum of €5 million. Most of our small industries, particularly outside the major urban areas and industrial centres, benefited from the support provided through these incentives.

The Government repeatedly discussed the smart economy, but how can we reconcile the abolition of the relief with the considerable support that the Government is providing to research and development at third level? People who are trying to develop enterprises outside third level institutions and on their own initiative are being penalised. Will the Minister of State re-examine this issue and reduce the relief in such a way as to eliminate those who were abusing it? Instead of a complete abolition, the relief could be reduced by half or even 33%. There is no point in throwing the baby out with the bath water. It would be an iron-fisted response. I would appreciate it if the Minister of State could inform the House about the saving that will accrue from the abolition of the relief and about whether a cost benefit analysis has been carried out.

We sell ourselves as trying to encourage foreign companies to come to Ireland and the consequential research and development, particularly in University College Galway, where outstanding and innovative work has been done. Galway has become a hub for medical devices. Despite the fact that money is being pumped into research and development at third level, will such work now be de-incentivised? Reconciling the abolition of the relief with where we want to go is difficult.

This might be my last opportunity to contribute in the House. I would like to offer a sincere word of thanks to my colleagues, first and foremost those in Galway East, and to wish those who are retiring well, those being, Deputies Connaughton and Treacy. In particular, I wish Deputy Treacy, who stated yesterday that he will not be going forward for re-election, a speedy return to health. I also thank the Minister of State, Deputy Mansergh, for his outstanding work and the support he gave to the people severely affected by the recent flooding in east County Galway, be they in the Ballinasloe or Gort area. Some doubted him, but he followed through on his assertion that he would take the lead role in driving relief forward. I compliment him in this regard and hope that the work will continue to provide relief for the many people whose incomes and households suffered.

It is regrettable that we cannot get many insurance companies to respond to the needs of people. They have taken a heavy-handed approach by refusing people home insurance. Those people will live in constant fear until such time as full remedial works have been carried out to prevent further flooding.

I wish all candidates, particularly my colleagues, well in the forthcoming election. Deputy Brian Hayes is a former student of mine, one of whom I am proud. I wish him well, not only in this-----

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