John Gerard Hanafin (Fianna Fail)

I welcome the Minister to the House. This is a technical Bill and I support the recommendation of the enterprise strategy group and the new mandate for Shannon Development. The indigenous industry support functions carried out by Shannon Development under delegated authority from Enterprise Ireland will revert to Enterprise Ireland on 1 January 2007. The reversion of these functions will also involve the transfer of about 40 staff from Shannon Development to Enterprise Ireland.

This Bill provides me with an opportunity to commend Shannon Development for a success that has been emulated by many other countries since 1959, when it was first established. In 1960, the Shannon free zone established the duty free area, which was carried from Abu Dhabi to Moscow as a success story. Successive Fianna Fáil Governments can be commended for duty free and tax free initiatives. In a recent report in The Economist, it was stated that at present, the GDP per person in Ireland is far ahead of our neighbours. This is a continuing success story and even when we take purchasing power parity into account, there has been enormous success. The Minister and the Government can take the credit for this.

I hope this success continues with today's budget. We have come a long way since 1959 and the original Barrington report in the 1960s, which showed that Ireland had severe economic difficulties, with many people emigrating, many not getting married and many with no opportunity. That has all changed. People are not only talking about jobs and career paths, but also about taking a few years' out to travel the world. Long may it last.

In 1963, the major tourism initiative began at Bunratty Castle. In 1964, the first international consultancy assignments were undertaken. In 1968, Shannon got responsibility for all regional inward industrial investment. In 1972, the foundation of what is now the University of Limerick occurred. In 1978, the first small and medium enterprise pilot programme was launched. In 1980, an innovation centre for indigenous high technology firms was opened. In 1984, the national technology park commenced operations. In 1986, Shannon Development established Shannon Heritage Limited and the Limerick food centre opened. In 1990, the Shannon world aviation park opened.

In 1994, the pilot programme of Shannon venture capital was initiated. In 1997, direct marketing centres were successfully launched. In 1999, Kerry Technology Park was launched. In 2001, the Limerick navigation system and marina was opened. In 2002, Doonbeg Golf Club was opened. In 2003, Shannon broadband was launched and Birr Technology Centre was opened in 2003.