Richard Bruton (Dublin North Central, Fine Gael)

I do not think it is a fair judgment that these were bad choices. Internationally, the recession we have experienced has been unprecedented. Anyone who has part of his or her business in the Irish market has suffered a 20% drop, while world markets have dropped by about 10%. This has been an exceptional maelstrom for Irish business. While I was not party to the decision to provide temporary relief, if jobs were lost, each job lost would have cost the Exchequer €20,000 per person in jobs that must be judged viable before the fund is accessed. It is unfair to imply the original choices were bad; this has been an extraordinary collapse that has not stemmed from those successfully trading overseas, rather it is a domestically created crisis, coupled with the international recession. However, we could not call into question the selection of companies.

The Deputy has asked if we are spending too much on Enterprise Ireland and I do not believe we are. We must develop an engine of indigenous growth and it is a criticism of Irish industrial policy that only 10% still comes from indigenously owned companies. To be fair to Enterprise Ireland, it has dramatically reduced in size in recent years; employment in the agency has fallen by 40%. That is not say, however, we can afford not to be vigilant. We must ensure every line in every programme delivers value for money. I will be applying such vigilance to the programmes.

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