Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I do not accept the Deputy's premise. I ask him to consider where we were when we came in here just over two and a half years ago. The country was blocked out of the international markets. Interest rates were 15% and rising. We had neither word nor integrity. Ireland had gone over a cliff. We have had to make many difficult decisions since then. Where are we now? Interest rates have dropped to 3.7%. The National Treasury Management Agency has built up a buffer of more than €20 billion by going out on the international markets. Some 34,000 new jobs were created in the past 12 months. Some 3,000 jobs a month are being created at the moment. Young men and women throughout the country are being employed in jobs in different areas as a consequence of the stimulus package that is developing bundles of schools, primary care centres and roads despite the economic circumstances. Details of a multi-billion investment that will take place between now and 2015 will be announced by the Minister for Public Expenditure and Reform in due course.

I have visited companies like Twitter, Dell, PayPal, Qualtrics and O'Brien Fine Foods. I have listened to a young man from America who came here and said he had a problem trying to find more space, rather than more people. He said he would be back again in 18 months to employ more people. We are very proud of the young men and women who have been given opportunities by people who want to invest in this country. This cosmopolitan and energetic city is seen as a great place in which to invest because of all the movement and action that takes place here. Some 10,000 entrepreneurs will come here at the end of the month for the world digital forum, which is driven by Mr. Paddy Cosgrave. No other country in the world can deal with that. These young, energetic, innovative, thinking, creative and imaginative people are dealing with the creation of the future.

The Deputy raised a couple of interesting points. Clearly, the Government focused on the creation of jobs in the budget that was announced last week. I meet young people all over the country who are not afraid of the future. They point to proposals and ideas they would like to see happening. The Government reflects this in many ways. One of the issues was the retention of the 9% lower rate of VAT in the hospitality sector. When I meet people from that sector, I am told that they are proud to work in it and to be part of the reception committee from Ireland that gives people a really good experience and makes them want to come back. Whether those who decried The Gathering like it or not, the evidence of that initiative speaks for itself.

The Government's brave decision to abolish the travel tax was the right one. It was responded to immediately by Ryanair when that airline gave a commitment to bring an additional 1 million people to this country. If those people have good experiences, get good value and have an opportunity to reflect kindly on Ireland, that will lead to repeat business from places from which we might not have got many visitors before now. I think that is good. There are 150,000 people employed in the agri-sector. I went to Naas some time ago to turn the sod on a €100 million expansion by the Kerry Group, which is already employing 200 young graduates - men and women - as researchers and innovators in the food area. Food science is a major issue. As I have said, we are exporting more than €9 billion of produce to more than 150 countries. Deputy Adams was at the ploughing championships and so was I. The majority of the young people who were there see potential up ahead.

Government has a response and a requirement to respond to that by opening the doors of opportunity. That is why, for instance, in a small but important gesture, the farmer's flat rate addition was increased from 4.8% to 5%, with effect from 1 January next. That is to do with compensation for farmers for VAT incurred on their outputs. We extended the capital gains tax retirement relief to disposals of long-term leased farm land in certain circumstances because when quotas go - as Glanbia is now investing on the Kilkenny-Carlow border - there will be 2,500 new jobs created on farms through the potential that exists there. We are a grass-based country and there are serious opportunities ahead. The eligibility for young trained farmer's relief is also being extended by three more qualifying courses. The Deputy is aware of the increased interest in that.

I have referred to the home renovation incentive and the €200 million injection in capital programmes for that. NAMA is also willing to make €2 billion available in vendor capital to purchasers of commercial properties in Ireland. It has lent €375 million across six major transactions already. These are all filled with job potential.

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