Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

Export growth in 2011 was 5.4%, compared to 1.6% last year. That is substantially below expectations. Goods exports, which are dominated by the pharmaceutical sector, were down by almost 10% on the corresponding period last year. Services exports from Facebook and the other new industries in which we have invested so much effort dipped in the first three months for the first time in three years of growth.

The lack of demand in our primary markets is out of the Minister's direct control, but what plans are in place at EU level to deal with this issue? The so-called compact for growth and jobs was announced last year but we have seen no initiative to back it up in order to sustain key European markets. I highlighted the upcoming patent cliff for the pharmaceutical industry with the Minister approximately six months ago. We have invested considerably over many years in developing the pharmaceutical industry and this Government continues to invest in research and development. However, while investment in research and development brings long-term returns, it will not create the jobs that are needed now. What is being done in the coming months to identify any further impact of the patent cliff? While the Minister indicated that employment growth was not negatively affected in the first quarter, it will follow if we allow this to become a trend.

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