Jim Higgins (Fine Gael)

I agree wholeheartedly with the comments of Senator Ryan regarding competitiveness, and the comments made in relation to benchmarking by fat-cat chief executives of companies. Senator Ross's adjunct to the Sunday Independent business section carried a banner headline last week regarding six or seven chief executives, all of whom were earning more than €1 million per annum. There is no chief executive today who merits such a salary. Many of them run ailing companies and it is time that shareholders took control for themselves.

In this House yesterday, reference was made by Senator White to The Economist. This week's issue carries a very serious article in relation to Ireland under the heading, "Ireland and Alcohol: Sláinte". Regarding Ireland's industrial performance, it quotes one estimate putting the overall cost of excessive boozing at nearly 2% of GDP in lower productivity resulting from drinkers not turning up for work, and from extra crime, particularly violence on our streets. That is a very damning and damaging article. I know we have debated the alcohol problem ad nauseam, yet when an international publication, read throughout the world, pens material like this, nothing is more calculated to damage Ireland's prospects. If a foreign industrialist is seeking to locate outside his country, he will certainly shy away from Ireland on the basis of this article.

Until now we have tended to internalise the problem in terms of social costs. It is a serious new development when a world-renowned publication focuses on this issue with regard to productivity. This needs to be addressed, not by denying the article, but by addressing the fundamental truth that there is an alcohol epidemic in this country that is causing an awful lot of damage. This should be brought to the attention of the Tánaiste and Minister for Enterprise, Trade and Employment and the Minister for Finance. It should be addressed as a matter of urgency.