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Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: I had a list of many of them. I take it that they are various points of view that have been put forward, but the point I want to make to the Deputy relates to the targets that are set out. These are targets that are not mentioned specifically in the report that was launched yesterday. "Making it Happen" is a report from the IDA, which set out its view of what it can deliver for the country...

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: What I want to do is set out the realistic opportunities for Ireland in the future. There are growth prospects. There are ways in which we can increase our level of exports. We had the food harvest report, which is also a stakeholder-driven report, where people in the industry came together and put forward their ideas for improving the prospects——

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: ——for an industry that employs 150,000.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: What I am simply trying to do, perhaps, is rebalance the debate somewhat where there is an exaggerated portrayal. As difficult as matters are, and they are difficult and must be confronted——

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: ——and we must get on with the business of dealing with these issues. It does not help the spirit of the country to suggest that there is no way forward because there is a way forward.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: We should be prepared to have an intelligent debate on those issues.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: That is nonsense. As the Deputy is aware, I have been meeting the heads of the State agencies in this capacity in an ongoing basis in many different ways.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: First, I refer to the question of producing a document. The document was prepared by the people in the industries who are charged with their promotion long before it was decided when the Dáil would return. It was approved and launched by the Government, as it is quite right and proper that people should know about it. They were not going to hear about this sort of opportunity from the...

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: I have read that document. From where will the Deputy get it?

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: It is not. Does he propose to take it from the deposits of existing Irish banks, thereby necessitating their recapitalisation to a greater extent? Does the Deputy want to work this out? He also made reference to the National Pensions Reserve Fund. However, that is a commercial fund and such money can only be taken on a commercial basis and, consequently, if one does so to set up such a...

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: The Deputy then spoke about using the fund for a slew of capital projects.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: We are already spending €5.5 billion on capital projects this year.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: It is and by the end of this year——

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: Allow me to bring the Deputy up to date.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: By the end of this year, another €850 million in contracts will have been signed. These matters——

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: It is being spent. There always are timing issues in respect of contracts. As the Deputy is aware, additional contracts are being signed by the NRA and others either now, last week or certainly in the coming week. I have spoken to its chairman recently about it. A range of capital projects is ongoing.

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: I am responding to the Deputy——

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: ——because he has suggested there is no interest in job creation. One cannot decouple job creation or economic recovery from getting the public finances into order. While everyone agrees with this point in principle, as one goes about doing it everyone disagrees with every cut and comes into the Chamber to make a representation as to why it should not take place. The point is that we...

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: No, I am trying to get people to see——

Cabinet Committee on Economic Renewal (29 Sep 2010)

Brian Cowen: I am trying to get people to see what is the situation.

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