Willie O'Dea (Limerick City, Fianna Fail)

I thank the Minister for his response. He seems to be saying that these agencies will not be exempt from the general spending review, which I accept. However, that would indicate that the rate of spending on those agencies is not going to increase, indeed it is possibly going to decrease. How does the Government hope to achieve its optimistic job-creation plans if it is possibly reducing funding for the very agencies on which we depend to create jobs, including attracting foreign investment?

The Minister will be aware that last year, for example, the IDA created approximately only 1,300 jobs in net terms. The record over the last four years shows that these enterprise agencies lost about 50,000 jobs more than they created, so in net terms that was a job creation record of minus 50,000. I am not underestimating the difficulties they have had nor the tremendous work they have done but nevertheless I fail to see how these agencies will do their job if neither funding nor resources are being increased. The Minister wants them to do a better job but how can they do so with less?

Today it was announced that there will be a €3,000 finder's fee for members of the diaspora who come up with ideas that will create jobs that last for at least two years. Will that fee be included in the budget for those agencies and, if not, what budget will it come from?

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