Paschal Donohoe (Fine Gael)

I agree with Senator Quinn's call for a debate on the parts of the economy which are doing well. In recent weeks, I visited companies in my locality which work in digital media and arts. Ireland has companies which are world-leading in these areas and which show the agility, spirit and degree of adventure to which we aspire our wider economy to share. These companies are not recognised on the roadmap of official Ireland. Several weeks ago the Government published the report of the innovation task force but it has not yet been debated in the Houses of the Oireachtas. The report is meant to provide the blueprint on how we can harness the spirit of creativity throughout the country for the well-being and benefit of all. It is important this report is debated soon.

I agree with Senator Bradford's call for a more philosophical analysis of how we got to where we are with the banking sector. I have no issue with someone being paid millions of euro or far more than I ever will because I believe in a free market economy. I believe the wealth such individuals can generate will percolate down for the benefit of all. I have an issue, however, with people earning such money in an unethical manner and to the detriment of all. The House must ensure, when it makes clear its condemnation of the practices of a few and the unethical manner in which they earned their salaries, it is not to the detriment of encouraging people to be entrepreneurial, found successful companies and be correctly and amply rewarded for that.