Martin Mansergh (Fianna Fail)

——there is a problem with regional balance.

Under the rainbow coalition, practically all IDA funding in the period 1995 to 1997 was invested in the greater Dublin region, apart from a major investment in Clonmel and another investment in Cork. However, none was invested in the regions. I hope yesterday's announcement will contribute to more balanced development.

Senator Paddy Burke is quite correct in saying the Atlantic corridor is not a new motorway from Letterkenny and Derry. Substantial parts thereof are already in place, including the Limerick-Ennis section. The Ennis bypass is being built and the Cork-Mallow route has been developed. It is a question of completing this standard along the whole route.

We now have a very low long-term unemployment rate, namely, 1.4%, which must be nearly as low as is possible. We have the second lowest unemployment rate in Europe. The only country with a lower rate is Cyprus, which has a rate of 4.3%. This statistic pertains to the second quarter of 2004 — we do not have the most recent figures with which to make an international comparison. Our low unemployment rate represents a great achievement by everybody. The Government is entitled to some of the credit and the social partners are entitled to a considerable share of it. They will be conscious of the contribution they have made to transforming this country.

Reference was made by the Minister of State to the importance of educational investment. I fully agree with him in this regard.

I welcome the survey, which shows the progress we are making. It indicates we are basically on the right track but of course we can always do better.