Feargal Quinn (Independent)

Every Thursday morning I did so with my colleagues in the company which I ran for over 40 years. We began on the shop floor at 8 a.m. every Thursday, visiting each of the departments and talking to practically everyone in the company.

We told them about how well or badly we were doing and about the problems and successes. We shared information on sales, customers and profits. The benefits of sharing such information were amazing. It meant that when one informed them changes were needed, the employees were more receptive to them, even if they did not welcome them. We changed the name of the department from human resources to the talent department, because the objective was to develop and arrange talent to ensure that people's innate talent could be garnered and used for the benefit of the company itself and its stakeholders. I have seen the benefits of sharing information.

I have one concern. I want to make a clear distinction between sharing information and sharing responsibility for managing the company. Traditionally, some employers may have tended to resist consultation because they felt it diluted their ability to control and direct the fortunes of their companies. However, that is based on a misconception. Consultation is not a process of co-management. Sharing information and managing a company are two distinct functions and it is not difficult to keep them separate. Managers have no need to fear they are doing themselves out of a job by consulting with their staff. Equally, the staff should not expect that under this Bill, they will end up running the business for which they work. I hope that will be understood.

However, I have real concerns. This summer, I went on two trips abroad, one to Budapest and the other to Prague. It was interesting to hear Senator O'Rourke mention how well-admired the Irish are. Monsieur Trichet, the president of the European Central Bank, has spoken about the Irish success. Even more significantly, the figures show how well we have succeeded.

Incidentally, have Members noticed how one no longer hears anti-Irish jokes? Two weeks ago, I watched a television programme made 30 years ago. It was interesting to hear a British comedian telling two anti-Irish jokes. One does not hear them any more because of the success we have made of this nation.

However, Members should not forget we are in a highly competitive Europe and world. I have real concerns, particularly after returning from Budapest and Prague. The high regard in which the Irish economy is held means that others are following our example. Others are asking how we did it. We are not simply in competition against other European countries. Europe and Ireland are in competition globally. Last week, I had a conversation with an Irish businessman who spoke about the regulations we introduced here as a result of a particular EU directive. He said that it takes him four months to get a decision whereas in the United Kingdom, which introduced the same directive, but in its own way, it takes three weeks.