Mark Dearey (Green Party)

I also would like to wish the Minister of State well. He will bring a sharp mind and a clear sense of priority to his new role. I look forward to watching him from the sidelines in the years ahead.

The Government has made a decision to long finger the issue of a climate change Bill. Such a Bill is not only a progressive and critical environmental measure, it would also provide massive momentum to the Irish economy in the years ahead. At its climate change summit last November, the CBI identified the global market in low-carbon goods and services to be worth €5 trillion by 2015, which is the year by which we hopefully will have met the last of our targets. Such numbers are doing the rounds right now and will be a reality in time. As a nation that adapts early and forces its processes of delivery of goods and services to comply with rigorous legislation, this could be a massive guide, compass and driver for innovation. Such innovation would be met by a global market. If we look at the climate change Bill as a measure that can give real focus and distinction to the Irish economy, then it should be moved up the agenda, and not long fingered as has happened.

Innovation is critical. Fine Gael representatives have often spoken about the innovation task force report, which is a fantastic blueprint for the future of the Irish economy. We are not getting enough definition on what that new economy will look like. There are many generic phrases, such as "smart", "clean", "green" and so on, but what exactly do they mean? The people on that task force, who are operators in the economy, put real focus and practical ideas on how Ireland can become the innovation island. It is a policy that I would back. However, what energy will drive this? Will it be imported fossil fuel, or the energy that is abundantly available around us? If we could capture all the wind that has come out of this Chamber on renewables, it would be a good start. To an extent, it is all wind; an aspiration. Renewables meet 15% of our national energy demand, but that can go a whole lot further.

I am very disappointed that the 26th recommendation in today's McCarthy report states that the group "recommends that EirGrid's Grid25 targets be re-considered in the light of demand developments and the Group's recommendations regarding reduced wind penetration." I like McCarthy's approach and I am generally in favour of what he says. As somebody who operates in the private sector, much of it resonates with me. However, I do not get this notion of reducing wind penetration. I think he has got an inherent suspicion of investment in wind and he sees it as a potential bubble. It would be counterintuitive for us to adopt this as national policy and it would not represent common sense, given the fact that it is a resource we are uniquely positioned to exploit in Europe, along with Scotland. Nobody else can touch us. In wind regimes even at minor sites, such as one I am opposing at the moment due to its poor location, seven meters per second is not great by Irish standards. Sites are being exploited in Germany at 4.5 metres per second. That part of the report needs to be challenged.

I would like to highlight just how native public interest directors can go. Senator Boyle will forgive me if I relate a phone call he received from the previous Minister for Finance, having himself received a phone call from the public interest directors on comments that the Senator made about Mr. Fingleton's bonus payment, which is still to be returned. They were effectively defending Michael Fingleton and chastising Senator Boyle for his comments. That is how uninterested in public service those particular individuals were at the time. I find it quite extraordinary that such an incident could happen.

I would like to comment on NAMA, the value of its assets and the interface between this and the Planning and Development (Amendment) Act 2010. It is critical that this Act is adhered to and is not diluted. An effort is being made to return certain powers to councillors, but it is critical that the core assets of NAMA retain their value. If we open the supply tap, that will be undermined and will lead to confusion in the market. It will lead to a fuzziness about where the economy is going and the fact that it can no longer return to being a development-based economy. I call this the "stupid economy", as opposed to the smart economy we are trying to develop. The 2010 Act acts as a bulwark against a return to those days and we need to adhere to it. There is pressure within Fine Gael for a certain unpicking of the Act, but I would warn against it. It would be very retrograde in terms of giving definition to our future economy.

A previous speaker mentioned that SMEs will drive our future growth and that the large inward investments of the past will become less frequent. Let us bring them on if they are still available. They can be available to us, particularly if we can guarantee clean energy. Some of the big search engines are looking not just for cheap energy but for clean energy. They want to be in places like Niagara, Norway and Switzerland where hydro energy is available. They are going to places where power is clean and affordable. We can also offer that.

Enterprise, ultimately, will help this economy to grow. Growth is a curious concept because we all understand that nothing can grow infinitely, even economies if they are based on resource use. The decoupling of resource use from growth will be a key challenge for the economy. It has been written about many times. It is a common theme for Green Party Members to speak about economic development without increased growth. It is a major conundrum to crack and it is one we must examine. In the area of energy, Ireland can do that.

Several months ago I spoke about how young, unskilled men are seriously affected by unemployment. A transition to a lower wage should be examined as a means of bringing them into the economy. The difference between what they receive and the minimum wage should be given to them rather than €100 per week on social welfare. This sum will be much less than €100 a week and, net, the State will pay them less and they will be in employment. In so far as the increase in the minimum wage presents a barrier to employment for some young people, this matter must be tackled. We did not mention unemployment in this debate. The function of the economy is to give employment, to give meaning to lives, to give dignity to people and to give people a sense of self-esteem when they wake up in the morning. What is the economy about if not that? It is certainly not about repaying our enormous debts, even though it must also do this. I will leave it there, with apologies for saying so much. These are my last few words here and I am happy to have made them.