Mark Dearey (Green Party)

I also welcome the clarity of thought and expression from the Governor of the Central Bank this morning. It was a model of communication which will help all of us to move forward.

I call for a debate on the future of semi-State companies. I do this in the context of the conditions that might attach to any loan or bailout. Not only is the corporation tax rate issue central to our well-being, so also is the future of semi-State companies. It would be a serious mistake to see them in private hands. It would probably result in a lack of investment and, therefore, a lack of realisation of the potential about which we have heard in terms of meeting Ireland's future energy needs. It is a fact that nine of every ten units that would be available to the country if we exploited our offshore wind energy sector potential could be exported. We would need only one of every ten units if we were to exploit all of the potential sites, many of which are along the eastern seaboard. I understand from the Irish Wind Energy Association that in generating 1 MW we would create eight jobs. There is phenomenal potential and I am concerned that we may, in the context of the conditions that might be applied to us, rush into a sale. It is something Fine Gael proposes in its NewERA document, but I genuinely believe it to be an error.

I am often asked about the smart economy. It is what the ESB, Bord na Mona and Bord Gais are engaged in. This is a magnificent opportunity for Irish SMEs to engage in innovation and sell product, as the grid becomes smarter, more responsive and efficient. This is not a product one can see or something that is placed on a ship or an aeroplane. It is energy that is supplied to the grid and exported. As bedrock income for the country, it would guarantee stability and security, which would be much more preferable to the basis on which economic growth was secured in the past.