Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

It has been well catalogued that Ireland lost a considerable amount of competitiveness between 2000 and 2010. Since 2011, Ireland's international competitiveness rankings have improved in the International Institute for Management Development's World Competitiveness Yearbook from 24th to 15th and from 29th to 25th in the WEF global competitiveness report. This is the third consecutive year that our position has improved in the WEF rankings and contrasts with a period of declining competitiveness experienced in the years up to 2011.

According to the WEF, Ireland ranks ahead of other advanced countries in categories such as institutions, labour market efficiency and the goods market. Ireland's scores are weakest in the macroeconomic environment category, which is driven by Government debt and borrowing. These weaknesses are being addressed through Government macroeconomic policies and the ongoing focus on improving the performance of financial institutions. At the report's launch, the WEF noted that Ireland's ranking was improving due to the structural reforms that were under way. Many of these messages were echoed in the recent annual EU member states competitiveness report, with Ireland named as one of only four member states with high and improving competitiveness.

Competitiveness has been a key theme in the Action Plan for Jobs since its inception. The plan has developed initiatives across the spectrum to improve competitiveness, including reforms to make wage-setting mechanisms more adaptable and measures to improve access to finance, to make it easier to establish, operate and expand a business, to deliver a supply of competitive skills to growing sectors, to reduce business costs and to enhance the ease of doing business.

The National Competitiveness Council, NCC, has been reconstituted with the addition of new industry partners. Recognising that competitiveness is a national economic priority, we have put in place a process under which the Cabinet committee on economic recovery and jobs considers a report on competitiveness on a quarterly basis. This has placed an enhanced focus on the practical changes that can be implemented to improve our national competitiveness. As in previous years, measures to enhance our competitiveness will be a core element of the Action Plan for Jobs in 2015.

See this speech in context