Jerry Buttimer (Cork South Central, Fine Gael) | Oireachtas source

That is a first, Acting Chairman. This has been piloted by the Minister for Finance. Let us put it in perspective because this is about job creation. I am referring to the 9% VAT rate, the small and medium enterprise job creation stimulus, the home improvement scheme and the endgame of the troika leaving the country.

We must consider the regions as well. I wish to speak about Cork in particular. I welcome the Minister's decision to give funding to the creation of the convention centre in the city of Cork. It is a major decision and a massive boost to the region.

In the short term, it will create employment through the creation of the convention centre but, more important, in the long term it will present opportunities to the people of Cork, as well as the offering of choice in entertainment and in the tourist attraction Cork city is and will become in the future as a destination for the conference market, the music industry and other activities linked to the aforementioned convention centre. I greatly welcome that the Minister has had the confidence in the city of Cork to allocate this money. It also is important that the city council gets its priorities right in respect of the location of the convention centre and that the process undertaken by Cork City Council will be carried out in a way that will ensure the convention centre is of benefit to the people and the region of Cork.

I also wish to speak of Cork in the context of the living city initiative and the benefit that can bring. While I again commend the Minister, I wish to ask him ceist amháin. In the context of Cork, is there a possibility that this could be extended beyond the owner-occupier sector? The simple reason for this question is that many people who seek to live within the catchment area of Cork city are working in the foreign direct investment sector. They do not own the properties but seek to live in apartment dwellings in the area. This suggestion should be considered in the context of the potential to unlock further growth for the city of Cork. The maps I have to hand show how metropolitan Cork has seen a huge growth in the Carrigaline, Glanmire, Ballincollig, Douglas, Grange and Frankfield areas, as well as Rochestown. Even though the population of the city centre is experiencing a modest increase, it requires further enticement. If the living city initiative could be tweaked, it is possible that more people could come into the city. The docklands projects has been paused on foot of what has been happening in the downturn, but the city of Cork has significant potential that can be unlocked as the real metropolitan hub for the region.

Linked to this is the importance of an active airport. While I wish the people of Shannon good luck, I am a little worried the growth of Shannon and so on may mean Cork is being forgotten. Cork is one of the oldest cities, is highly important and its people have played a major role in the development of the region.

When I hear Deputy Ó Snodaigh talk about corporation tax, he and other Members should consider the benefit of EMC, Apple Computer and the pharmaceutical industries located in the harbour of Cork on foot of Ireland's corporation tax rate. Moreover, this is thanks to the incredible ability of the colleges and universities in Cork to attract people to come into the city and the area around Cork Harbour. The Minister has played a key role in retaining the current rate of corporation tax, but one must never discredit the fact that people came to the city of Cork to locate and to give employment. This budget and Finance (No. 2) Bill are about job creation and I commend the Bill to the House.

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