Larry Butler (Independent)

I wish to put an important point to the Minister of State. I endorse and welcome the four year plan. One thing that should have been included in the plan, however, is mention of the energy industry. Even at this late stage, an addendum should be made to the plan to ensure companies such as Spirit of Ireland, which could invest €3.5 billion over the next few years to build a system that would allow us export electricity, are mentioned. This is vital and would ensure our electricity base prices would remain among the lowest in Europe. It is also important to bear in mind that in 1985 we were paying 35p out of every £1 for our borrowings, but our new borrowings under the EU and IMF loans will only cost approximately 22 cent out of every €1. It is important to remember this. With bond holders currently offering money at 9%, the deal we have been offered is reasonable, although I would have liked us to have been able to borrow at 5%. The Minister of State should look at including an addendum in the four year plan with regard to the energy industry.