Paschal Donohoe (Dublin Central, Fine Gael)

Several of my colleagues have responded to Deputy Clare Daly's comments. I could not help but think about Monty Python and the famous question, "what have the Romans ever done for us?", when she asked about the role of foreign investment and multinational companies in Ireland. She queried the contributions they have made to the common good and asked why do they not pay taxes. It has clearly escaped her notice that all the people who work in those companies pay income tax and their employers pay employers' PRSI. The companies also pay corporation tax. If she wants to query the contribution that type of work makes to the common good or the national interest she needs only to spend a few minutes investigating the commercialisation centres established in all our universities to help Irish researchers use the technology they develop in academic settings to deliver commercial gain, employ people and create wealth.

The Bill has been welcomed by the majority of Deputies. I hope to add to the progress that has already been made in this Bill by raising four issues. A supply of incubation funds and seed capital will be necessary to allow people to take advantage of the new patent regime. Ireland already has a buoyant venture capital industry but many of the sources of funding previously available are drying up due to the impact of the financial crisis. One of the recommendations of the innovation task force report published last year was that we should explore ways of strengthening the supply of venture capital in this State to ensure people can take advantage of the cutting edge ideas they develop. The establishment of a strategic investment fund or bank, which is proposed in the programme for Government, would support the measures taken in this Bill.

The President has made reference to the creation of the international content clearing centre, an idea which won an award in the Your Country, Your Call competition. The centre would help to ensure Ireland was at the leading edge in the sharing and distribution of digital content worldwide. When fleshed out, it is an idea that would sit well with the other initiatives currently underway in Ireland and I intend to ensure it receives Government support it in the coming years.

The research and development tax credit offers a significant strategic advantage to our State. We have made creative use of the ability it grants companies to benefit from research and development conducted here. We should investigate how we can widen the definition of the tax credit to include a wider range of companies engaged in innovation. While the scheme is well defined as covering the life sciences, biotechnology and pharmaceuticals - people who wear white coats in laboratories - anybody who comes up with truly creative and innovative thought should be able to access it.

While I am very supportive of the development of the right kind of patent regime in Ireland, the application of patent policy can at times stifle innovation and competition. New ideas may be blocked because of the way patents are applied by other firms. This is, however, a point of nuance in the context of overwhelming and understandable support for the current patent regime.

If Deputy Clare Daly's opinions about the Bill differed from mine, her differences were minor in comparison to the odyssey which Deputy Finian McGrath embarked on. He touched on various matters, including the presidency.

It was an odyssey of wonderful proportions.

No one can doubt the commitment of Mr. Gay Mitchell to the Good Friday Agreement, constitutional nationalism, true inclusion and robust debate, but none of those things is mutually exclusive. Then again, unlike Deputy Finian McGrath, I have never been in any doubt as to who I will support.

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