Micheál Martin (Cork South Central, Fianna Fail)

I welcome the comments the Taoiseach repeatedly made in the United States to the effect that the 2011 budget has been central to restoring international confidence in Ireland. I accept that it would be too much to expect the Taoiseach to acknowledge the fact that he voted and then ran an election campaign against that budget.

Does the Taoiseach agree the deep connections which have been built up over the years with major US investors remain strong and were central to many of the key investment decisions that have been taken? In essence, the foreign direct investment strategy that has been pursued for many years continues to ensure a solid pipeline of inward investment, once the fundamentals relating to corporation taxation, structure, skills and the overall environment for facilitating the conduct of business and industry are right. PayPal, for example, has been operating here for some time and I was delighted with Eli Lilly's recent announcement. The latter also made an announcement of this nature in 2006. I ask the Taoiseach to clarify the position but it seems these and other major US investors involved in producing pharmaceuticals, medical devices and technology remain committed to Ireland. Notwithstanding issues which may arise from time to time, the companies to which I refer tend to comment very favourably on their experience in this country. In particular, they tend to comment strongly on the quality of the skillsets among those who work in the industries to which I refer. In the area of the pharmaceuticals industry and in the context of the relationship with the US Food and Drug Administration, FDA, a strong record of compliance has proven to be a key factor in our continuing to attract major investment. Such investments have been made notwithstanding the challenges which the industry faces.

Will the Taoiseach outline what happened at his meeting with the Global Irish Network, a body I established some years ago? There are key individuals on this network who can help us, particularly in respect of the financial services and other sectors of the economy.

Will the Taoiseach indicate if he engaged in discussions with personnel, either political or business, in the United States in respect of the proposals of President Obama and his Administration to alter their country's treatment of the foreign earnings of corporations? Was that matter raised during his visit and did he comment on it? What are the indications emanating from the White House in respect of this proposal?

See this speech in context