Peadar Tóibín (Meath West, Sinn Fein)

I welcome this important Bill. It is important that we give foreign direct investment all the support we can, but it also important that we make sure that foreign direct investment does not operate as an enclave in this State, which it does in many ways. Some 80% to 90% of the inputs into chemical and pharmaceutical industries, which make up 60% of our exports, are brought into this State and serious work needs to be done to create the necessary links between the domestic economy and foreign direct investment. While we do good work in attracting foreign direct investment, the domestic economy is sick and has fallen off a cliff, so to speak. Until that is dealt with, the jobs issue will not be addressed. That is why it is important the Government lives up to the promise it has made today in regard to the insurance brokers association to develop a Bill before the end of this year that will include a proviso to reduce the regulation burden on its members shoulders and the cost to them of audits. It should bring in the insurance brokers to discuss with them what is necessary to drive their industry forward.

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