Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The people who make submissions on these matters are those who are familiar with foreign direct investment and its benefits for the country and with the platforms that are necessary to attract foreign direct investment to Ireland against competition from other countries. Many people made submissions when we opened the consultative process, but principal among them were the IDA, the American Chamber of Commerce, IBEC, and the tax practitioners and big firms that represent foreign direct investment here. These made their submissions and we made a judgment. We also get submissions from people who do not have expertise in the area but who have strong opinions on these matters, and we take these into account.

The objective is to have more foreign direct investment in the country so that more jobs are created. I do not disagree with the Deputy that the model in Ireland has been lopsided. Not enough attention has been given to growing indigenous industry into multinational industry.

However, the Deputy will notice that is not true of this Administration and that in every Finance Bill we have concentrated on agriculture and food and tourism which we are growing into major industries, even bigger than they historically were. I will continue to do this. While foreign direct investment is very important, the growth of indigenous industry with deep roots in Irish society is equally important.

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