Billy Kelleher (Cork North Central, Fianna Fail)

Perhaps a nice meal would be put in front of me. It is obvious that this country's growth projections have been reviewed. There was a positive growth outlook in the first quarter of 2010 which was not the case in the second quarter. We must try to analyse the figures with a view to achieving growth in the longer term. We should highlight the fact that there was massive contraction of approximately 9% in 2009.

Senator Dearey and others spoke about Ireland's over-reliance on the construction industry. They were right to suggest that in any modern economy approximately 7% or 8% of GDP should be generated through construction and home improvements, etc.

The issue of green energy receives a great deal of attention in the document. The composition of the current Government is not the reason for this. We see huge potential in the green energy sector. Ireland is recognised internationally as being at the cutting edge of investment in research and development with regard to forms of energy that use clean technology. There will be further expansion in this area in the years to come. It is interesting to note that on one particular day over 40% of this country's demand for electricity was met by wind energy alone. I forget what date it was, but it was obviously a very windy day. It is clear that we are getting closer to meeting our obligations under the various protocols. More importantly, there is huge potential in Ireland to create employment opportunities and generate revenue through the sale of clean energy technologies. We should try to remove the obstacles to the development of the industry.

Innovation and the smart economy are easy words to use in a fine sentence. We are talking about doing things in a more efficient and smart way and, as a result, having a more efficient economy. That is what the smart economy is really about. There is no grand design behind it. It is about being more efficient in what we are doing and more effective in our thought processes. Although it presents a huge challenge, the opportunities outweigh the negatives sometimes promoted in this country.

Not only should we benefit tourism as an industry, but we should also create an awareness of Ireland as more than an island one visits to enjoy oneself. It is good that people have a positive experience when they come here - they see us as a friendly people, etc. - but we should also remind them of what we have achieved. While we cannot ignore our present position, we should bear in mind that, as a nation, we have transformed ourselves beyond recognition by comparison with where we were 25 or 30 years ago. When emigrants who might not have been here for many years, who might not have kept in touch with Ireland or who might not be aware of how much we have progressed, return to this country, they are utterly overwhelmed by what we have achieved as a people in recent times. Tourism is a key sector.

Another sector in which the Government sees great potential is education. Again, this will not be for short-term gain in receiving fees from overseas students but for longer term gains in the links that will be created in bringing students with high capabilities to Ireland. If, while receiving an education, such students have a positive educational and social experience, on their return to their parent countries they will be inclined to keep in touch with the country in which they were educated. This will be of long-term strategic benefit to Ireland, as most of the individuals concerned will be involved in key decision-making processes in their respective countries in the fields of commerce, politics, culture and education. Consequently, the retention of such links is of critical importance. At the same time, Ireland will benefit commercially and economically on foot of the payments made by such students to come here. In other words, this is a win-win in the payment of fees in the short term and the building of strategic links in the long term.

I apologise to one or two Members because, unfortunately, I was obliged to leave the House at 1.30 p.m. to fulfil another commitment. Obviously, I will take into account what was said. Overall, there is a general acceptance that the strategy outlined is positive. I understand the views expressed by Members who suggested ways by which it might be tightened.

The question was raised as to the reason there had not been greater consultation with stakeholders. There was much consultation. Moreover, by definition, State agencies are not removed from reality. For example, Enterprise Ireland is at the cutting edge of interaction with small, medium-sized and high potential start-up businesses and deals with such enterprises on a daily basis. Moreover, many of its employees gained experience on the other side of the fence in the commercial world, as recruitment often brings such individuals into the organisation resulting in the sharing of experiences. Consequently, the agencies which promote Ireland abroad or try to attract foreign direct investment have a strong understanding of the difficulties and challenges faced by business.

I again thank Members for their contributions and my officials for their hard work in compiling the document. While the trade council which has been established will only meet two or three times a year, it will report to the Government. More importantly, it will analyse on a continuous basis the output of the strategy and make sure the contents of the document are carried through by the various agencies of the State, including Departments, IDA Ireland, Tourism Ireland, Enterprise Ireland and Bord Bia, working together in harmony and unison to try to create a better Ireland for everyone.