Dan Boyle (Green Party)

My confidence is based on the fact that the structure of the economy has changed and our relationships with trading partners are much different. For instance, when we joined the European Economic Community we conducted 50% of our trade with the United Kingdom, our main trading partner. This figure has reduced to 14% and our main trading partner is now the United States, with which we conduct 15% of our trade. Our trading relations are more diverse, not only in terms of the number of countries with which we trade but also in terms of the types of goods and services in which we trade. It is also more secure as a result of adequate investment over the years.

This change is not the sole responsibility of any Government or political party. Structural decisions made over the years on education and taxation policy have boosted economic growth. The Single European Act created the Single Market in Europe and encouraged many multinational companies to establish in Ireland. The benefit of some of these factors is beginning to dissipate and the manufacturing sector is experiencing difficulties as companies move to locations with a lower cost base. Problems also arise regarding energy use in the economy.

In his contribution, which I described, perhaps in unparliamentary language, as a rant, Senator Twomey referred to the Green Party, of which I am the finance spokesperson. Our proposals to restructure the taxation system will not add one cent to the tax burden and will be to our advantage in creating a more competitive, resilient economy in future.