John Deasy (Waterford, Fine Gael) | Oireachtas source

I appreciate the comments of Deputies Doherty, Boyd Barrett and Higgins. Deputy Doherty said regional development was not in the dictionary. I might not disagree with that but, at the very least, the people running this fund will have to give it consideration now. It is better being in than not. There is an issue for Ministers and senior civil servants who make the macro financial decisions. In the public and private conversations I have had, the conclusion that everybody understands is that even though they say there has been an inordinately uneven spread of investment in the country over the past 20 years, nobody has an idea what to do about it. However, the way to start is by admitting the problem exists, and that is what the reporting requirement achieves to a certain extent. I am not alone in this view, as Deputy Michael McGrath tabled a similar amendment on Committee Stage.

All we need to do is examine what has happened in Dublin. Deputy Boyd Barrett is correct regarding property prices. Outside Dublin, Cork and Galway, they have stagnated and they are not increasing. It is a different world compared to Dublin. The attitude that a recovery will eventually trickle down to the provinces is pretty lazy. It is an idea that from what I have seen has not materialised to any great extent. I am glad this attitude does not inhabit the Department of Finance but, as a start, this fund is considerable, significant and important.

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