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

The approach of this Government so far has yielded dividends for our people and our economy. It has resulted in the State being able to re-enter the international finance markets. In the first quarter of this year the National Treasury Management Agency raised €7.5 billion from two over-subscribed bond sales showing the strong international interest in investing in Ireland. Re-entering the markets has put us in a position where we have a cash buffer for 12 to 15 months, which means that we can exit the bailout on 15 December.

The international confidence this Government has restored is not just about financing our country so that we can once again pay for essential services without the support of the our European colleagues. It is about job creation. That is why this week it is important that we recognise the story about job creation.

Let me give the figures for October 2013 which show that for the first time since April 2009, the number of unemployed people in the city of Cork, which I represent and in which I live, has fallen below 39,000. In October, 38,449 people were on the live register in Cork. While this figure is still too high, it represents a fall of 19.6%, or more than 9,000, from a peak of almost 48,000 in July 2010. That is 9,000 Corkonians back at work because of this Government's policy, business investment and the ability of our country to rise above the difficulties it encountered.

Many Members spoke about our economic sovereignty but let us look at the confidence our multinational companies bring in terms of cash injections and job creation. I want to focus on the Cork area where EMC, Apple and the large pharmaceutical companies in the harbour are creating jobs. Foreign direct investment creates and supports approximately 250,000 jobs directly and indirectly in our country. In the city and county of Cork, it will play a key role in the revitalisation of the local economy, although it also plays a significant role today in the local Cork economy.

People want to tamper with our corporation tax. Do not tamper with the jobs of fellow citizens who require foreign direct investment in tandem with what this Government has done through its Action Plan for Jobs to create small enterprises and to give them assistance of which they were starved for so long by the previous Administration. To illustrate my point, I would ask where the Fianna Fáil Members are tonight. The reason they are not here is that they are running from their record. The record of this Government is about getting our country back to work, paying our way, being responsible in government and giving our people hope.

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