Micheál Martin (Cork South Central, Fianna Fail)

Many business concerns state they are over-regulated. That was also said to be the case in the financial world for a long period. The Government's policy is to reduce regulation and the regulatory burden and also to simplify regulations in order to avoid duplication. The position of the European Union and the OECD is the same. However, every European directive brought forward will, in all likelihood, increase the regulatory burden on somebody somewhere in the context of their business. I do not get a sense that, either at official level across Departments or at Oireachtas level, penetration is being achieved on the regulatory issue. There is no indication that people are shouting, "Halt", that they are taking stock or that they are bringing forward alternative or simple mechanisms.

I do not intend what I am about to say in a partisan way, but the Taoiseach has referred to three or four Departments which are dealing with different bodies internationally. That sounds itsy bitsy and somewhat all over the place. In the context of the Government, the European Union and the various Oireachtas committees which deal with it, we need a far more simple approach to dealing with regulation that is coming down the tracks and a more honest approach to assessing what will be the impact of such regulation on businesses and sectoral interests and how it may relate to costs and jobs.

See this speech in context