Ruth Coppinger (Dublin West, Anti-Austerity Alliance) | Oireachtas source

I thank the Taoiseach. His reply was worth waiting for.

There was purpose to the question. In light of the fantastic economic figures released last week, I thought we might be adjusting completely our social and public sector policies. I am sure the Taoiseach read the article in the Financial Timeslast week. It opened by stating:

The Irish have written some notable works of fiction - James Joyce and Flann O'Brien produced imperishable classics. Now there is a new addition to the national [canon] - the official narrative of the country's economy. According to data released on Tuesday, it grew by 26.3 per cent last year.

Arising from this and the previous Government's policy of creating a tax haven in the country and other such incentives for multinationals to locate here, we are now disguising the real economic figures and making ourselves an international laughing stock. I do not know how the Taoiseach was greeted in Europe last week but the idea that there has been a 26% growth in the economy - I do not know if even Soviet Russia in the 1930s exceeded these figures - means we have all now heard the phrase leprechaun economics being bandied around internationally.

Has the Taoiseach reconsidered this country's policy of having the lowest rate of corporation tax in Europe, particularly when we have the most acute housing emergency? The Government has just released a plan which, unfortunately and sadly for those on housing lists, will continue to see people waiting up to 15 years to be housed and puts housing in the lap of the private sector. Meanwhile in the real world, while these figures were making us a laughing stock, according to Social Justice Ireland the number of people living in poverty in Ireland has increased by more than 110,000. Today, more than 750,000 people in the State live in poverty and 18% of adults with incomes below the poverty line are in employment.

The Taoiseach had a mantra during the election about making work pay. In actual fact, work does not pay for a huge number of people in the country. I am sure the Taoiseach has also noted the Low Pay Commission's derisory and insulting awarding of a 10 cent an hour increase to the minimum wage. Many have commented that it would have been better if no increase had been awarded because a 10 cent increase just adds insult to injury.

Will the Taoiseach reconsider his sacred policy of multinational domination of the economy? The policy allows them to have brass plate operations here and to source so much of their operations here they are distorting economic figures. It is now impossible to determine the rate of growth.

I will finish by mentioning the pursuit of Apple. Will the Taoiseach now drop his opposition to the European Commission's pursuit of Apple for back taxes in this country? These are estimated to amount to €17 billion. Imagine the houses we could build if we had €17 billion to hand. Will the Taoiseach consider bringing into effect the headline rate of corporation tax, which would increase our fiscal space of €2 billion this year alone? Those are the kinds of things we need to do to solve the housing crisis and not the kind of thing released earlier on today, which offers little hope to people.

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