James Reilly (Dublin North, Fine Gael) | Oireachtas source

It is important to remember that Ireland continues to be competitive in attracting new investment. Over 1,000 multinational corporations have chosen Ireland as their strategic European base. Multinationals currently employ 146,000 people directly and many more indirectly. In spite of the latest CSO figures, the positive impact of the Government's policies on job creation are beginning to show. The year 2011 saw a net increase of 6,000 jobs in IDA-supported companies and a number of major foreign direct investments have been announced so far this year. IDA Ireland has announced the creation of over 1,000 jobs this month alone, including the expansions of the relatively new EA Games facility in Galway and Northern Trust's financial services operation in Limerick.

The immediate outlook for Ireland's foreign direct investment portfolio is positive, with a strong short-term pipeline in place. IDA Ireland is confident of securing further investments, particularly in life sciences, which will include a number of capital intensive investments involving significant construction projects. Enterprise Ireland companies achieved €15.2 billion in exports last year, the highest level ever, and employment in the agency's client companies stabilised in 2011 after 30,000 job losses in the period 2007 to 2010. In 2011, jobs in exporting companies started to grow again for the first time after three years of contraction and the Government is determined to build on this by improving supports like the establishment of a new potential exporters division in that agency. Employment in the tourism sector also increased by 6,300 in the period June 2011 to June 2012, supported in particular by the measures taken in the jobs initiative which lowered VAT rates and halved employer's PRSI on earnings up to €356 per week.

The Government will continue to deliver on its commitments in the action plan for jobs, which will be an annual process setting out clear targets to be delivered each year to support job creation. We hold fast to our parallel ambitions to make Ireland the best small country in the world to do business and to create the environment where the number of people at work will reach 2 million by 2020.

I know my colleague, the Minister, Deputy Richard Bruton, is committed to job creation and I will certainly pass on the invitation to visit Kerry to him and to the Minister of State, Deputy Perry. In regard to Shannon LNG, I can assure the Deputy that the Minister, Deputy Deenihan, has brought up this issue on numerous occasions at Cabinet.

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