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Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: I move amendment No. 1: To delete all words after "Seanad Éireann" and substitute the following: "notes that Irish inflation in EU terms is now not far off 2 per cent per annum and supports the Government's prudent approach to fiscal policy as the best guarantee of continuing to meet such low inflation targets." For reasons I will explain, I am surprised Senator O'Toole put his name to this...

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: The combating of inflation was the overriding priority for him. In a very interesting article billed on the front page as "Milton versus Keynes", the Financial Times points out that economic policy is actually a synthesis between the two. A sentence of the article, written by Martin Wolf, states: "Over the past two decades, a world of flat money has supplied modest inflation and supported...

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: The announcements about Cisco and Google do not suggest this country is becoming unattractive for investment. We continue to have full employment. I will readily concede we must be vigilant. I am very glad the energy regulator is re-examining the price rises he approved earlier in the summer. I note the Minister for Finance did not raise excise duties in either of the last two budgets....

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: When one compares like with like.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: It is half a per cent.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: The latest figure is 2.2%.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: We have managed to keep it a very good economy.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: There was zero investment in public transport. The Senator can examine Deputy Quinn's Estimates.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: Two and a half years.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: We have a good economy today.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: The Government has invested €775 million in public transport. Senator Ryan's party invested zero in it in 1997.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: Most of the cost is in urban areas.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: Consider Cisco's comments on that matter yesterday.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: I assumed that given his was the second name on the motion, he might be here to speak on the subject.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: When it is Sunday newspaper coverage, it ought to be inflation-proofed and it clearly is not.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: I spoke about the newspaper's Sunday addresses.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: We receive 35% corporation tax.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: Of which Senator Norris is such an ornament.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: Literacy.

Seanad: Economic Competitiveness: Motion (22 Nov 2006)

Martin Mansergh: It is quite an ideological motion, too.

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