Fiona O'Malley (Independent)

-----visited Intel more than four months ago because we are concerned about energy costs. It is one of Intel's big problems with Ireland. We heard that costs were getting out of control and that we needed to do something about it, which we did. The fact that Intel has indicated it will reinvest in this country is such a good indicator. What would we have done if it had not done so? It shows the Government is doing the right thing and that the country is regaining its competitiveness.

Apart from energy costs, construction costs are down 40% so people can now afford to do business here and to expand. We need to keep an eye on that and I am sure Fine Gael will do so if the people decide to put it in government. If one is to curtail costs, it means making adjustments.

We cannot be complacent. Previous speakers asked how hard is it to do business here. How difficult is it for businesses here to expand? We heard about patents earlier and we must make things easier for people. The Minister of State, Deputy Kelleher, has been in the House to address the red tape. We must streamline things for small and medium sized enterprises in particular. We are in danger of throwing the baby out with the bath water. There is this notion that we had no regulation and that is what got us into trouble but that we will now have far too much regulation. There needs to be a happy medium.

It is vital the message that Ireland is good and open for business is made very clear to people. That is why we must ensure we keep an eye on whatever constraints there are on business. The Minister of State spoke about strategies that have been adopted and that this is the way to go. Everybody acknowledges the successes which have been achieved. However, we need to be careful and hear what small businesses are saying, such as, how difficult it is to get paid, in particular, by the State, or whatever. We need to keep an eye on that area.

Tourism has massive potential but it has been quite damaged. We have bad statistics because of the perception that Ireland is too dear. Why is it too dear? We are in danger of killing the goose which laid the golden egg. We now hear there is a lot more value in restaurants and so on than ever before. That is a good thing.

After the changeover to the euro, many people decided it was cheaper to bring their family for a two week holiday to Spain than to remain in Ireland. That was terrible. My family holidays were always in Ireland. We kept the money in the town, spent locally and developed the indigenous economy. We did not have that tradition of going abroad. Besides it cost a fortune to get a flight in those days whereas now it is so much cheaper to go to Spain. That is something on which people in the tourism industry need to keep an eye. People enjoy themselves when they come to Ireland but it is expensive.

I am tired listening to people say that lowering the tax rate was a bad thing. As soon as we lowered the tax rate, the money came in. People will pay fair taxes. The cost of things is very transparent and if we want people to do business here, we should make it affordable for them. It is better to serve food in a bar which is full and a little bit cheaper than to serve more expensive food to fewer customers. People recognise that now and costs are coming down. That is where we are regaining our competitive position. I am glad to see that because it is a good news story.

I agree totally with what Senator Norris said about the young scientists and how we need investment. He spoke about bankers and about what happened in the European Parliament this afternoon. However, he needs to recognise that if we are to invest in those young scientists and young geniuses of the future, we need a working banking system. Whether we like it or not and whatever happened in the past, Ireland had no choice but to support the banking industry. Investment only comes through the banking sector and that is why we need a coherent banking structure. I am glad our competitiveness is improving. Long may the good work by the Government in this area continue.