Enda Kenny (Mayo, Fine Gael) | Oireachtas source

If we had had a very different financial order and competence ourselves over the years, we would be in an even stronger position to deal with elements of this. The Deputy asked me our view on the financial transaction tax. I have answered this in the House on many occasions. We have not supported a financial transaction tax because it would place our financial services centre and, as a consequence, our economy at a disadvantage. Were it to be applied on a global scale, or throughout the European Union, we would have a different perspective. It is not applied globally and, for that reason, Ireland has a very clear view. It will retain such a view during its Presidency. It will run its Presidency as competently as it can but it will not become an advocate of a measure that could place our economy and, as a consequence, our people at a serious disadvantage.

Partly through the programmes adopted by Ireland, the Union and many other countries, the region in question will expand enormously economically in the coming 20 years. Many countries in north Africa are expanding at a rate of 6%, 7% or 8% per year. Clearly, there is enormous potential in this regard. When one speaks to those affected directly by the Irish aid programme and expenditure thereunder, one notes that they value the aid very much. They commend the NGOs and the Irish Aid assistance programme. I am sure they feel this way about other countries also. We continue to keep on that path development. It is in the interest of Ireland and the African peoples. I am sure the Deputy supports that.

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