Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I propose to take Questions Nos. 1 to 17, inclusive, together.

I travelled to Davos, Switzerland to attend the annual meeting of the World Economic Forum from 22 to 24 January. The Minister for Finance, Deputy Michael Noonan, also attended the forum. The World Economic Forum annual meeting is attended by political and business leaders and heads of international organisations from across the globe. The theme of this year's meeting was "The reshaping of the World; Consequences for Society, Politics and Business". On Wednesday evening, 22 January, I attended a function hosted by Professor Klaus Schwab, executive chairman of the forum, that was also attended by other Heads of Government and the business council of the World Economic Forum. I participated in a number of formal events on the programme on current global economic matters. These included an interactive lunch session on the Thursday entitled, The New Europe Context, which focused on priorities for fiscal and monetary reform and drivers of global competitiveness. Later that day I took part in a high level plenary session entitled, Closing Europe's Competitiveness Gap, which examined how Europe's leaders were transitioning from crisis response mode towards a long-term strategy for competitiveness and growth. Other panellists in the discussion included José Manuel Barroso, President of the European Commission; Angel Gurría, secretary general of the OECD; Frederik Reinfeldt, Prime Minister of Sweden; Fabrizio Saccomanni, Italy's then Minister of Economy and Finance; and Joe Kaeser, president and CEO of Siemens, Germany. I did not have a scheduled meeting with President Barroso at the World Economic Forum other than a brief encounter with him, with the other panellists at the preparatory session in advance of the live panel debate on global competitiveness.

I participated in a high level discussion session on Friday, 24 January on the prevailing global themes for 2014, which included the political situation in the Middle East, global financial issues and climate change. During my time at the World Economic Forum I also held several bilateral meetings. With the Minister for Finance, I met US Secretary of the Treasury, Jacob Lew. I briefed Secretary Lew on recent positive economic developments in Ireland, including Ireland's successful return to the bond markets. I referred to the medium-term economic strategy published in December and the Government's commitment to continuing the reforms in the public finances, the financial sector and the real economy. We discussed European banking issues, including the proposed deal on a banking union and corporate tax reform. I reiterated Ireland's commitments to the OECD base erosion and profit shifting, BEPS, process and maintaining a competitive, transparent and predictable corporate tax regime underpinned by statute. Secretary Lew expressed some confidence that a comprehensive US tax reform deal might be achieved this year. We also discussed the current economic situation in the United States. We noted the ongoing negotiations between the European Union and the United States on the Transatlantic Trade and Investment Partnership, TTIP, and that good progress had been reported at the third round TTIP negotiations which had taken place in December.

While in Davos, I met individually with leaders of several major multinational firms from a variety of fields, principally in the high tech and financial services areas. This was my third visit to the forum and the first since Ireland had successfully exited the EU-IMF programme of assistance. I was keen to emphasise Ireland's pro-business and world-class research and development environment, as well as our young, well educated and flexible workforce as key elements that made Ireland an excellent place in which to invest. On Thursday evening, 23 January, I participated in an event attended by senior executives of major international companies which was organised by IDA Ireland to promote Ireland as an excellent business location. I acknowledged the vital contribution that many of the companies represented had made to Ireland and the economy and urged other guests to seriously consider Ireland as a potential location for investment or expansion.

My principal focus at the forum was on business and investment in Ireland. I did not have an opportunity to discuss Irish Aid or our overseas development programme in any great detail at the sessions and meetings which I attended. While I frequently referred to Ireland's path to economic recovery and growth, I did not discuss specifics relating to the Irish property sector during my time at the forum. The topic of trade and services across Europe formed part of the overall discussions on EU competitiveness and I discussed the prospect of expanding our trade in services with several of the companies that I met.

Unemployment, in particular youth unemployment and the measures being undertaken to address it, was a constant theme throughout the forum, particularly in the discussions on competitiveness. I stressed at every opportunity that jobs and growth creation were the Government's key priorities, matching the priorities agreed in Europe through the EU 2020 strategy.

I also emphasised that the key to tackling youth unemployment is the creation of an environment for a strong economic recovery by promoting competitiveness and productivity.

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