Martin Conway (Fine Gael) | Oireachtas source

I welcome the Minister of State to the House again. Senator Mulcahy eloquently dealt with this poorly thought out motion which, were it to come to fruition, would be very dangerous because of the consequences to which it could lead. I will not go over them but I will state the notion of history and history making is a cliche used far too often. However, in this particular instance it is highly appropriate given the fact Shannon Airport has had such a phenomenal history as a driver of economic development throughout the west of Ireland from Donegal to Cork.

People have come from all over to work at Shannon. Some of the best industries this country has seen have been incubated and developed in Shannon, thus creating thousands of jobs there. Shannon is recognised internationally as having a human resources facility for aviation that is second to none. Shannon also has a phenomenal reputation in aviation finance and engineering. Effectively, the Government has finally taken the bull by the horns to recalibrate Shannon and allow it the flexibility and space to develop. Aer Rianta International will go to the Dublin Airport Authority, but Shannon will have a rental income of between ¤13 million and ¤14 million from the industrial estate alone, despite these economically challenging times. I have no doubt this rental income will increase substantially because the Government has effectively ring-fenced aviation related industries to the new company.

It is appropriate that tourism-related businesses should go to Fáilte Ireland and that foreign direct investment should be in the IDA. We are a small island and need to bank our resources properly. Shannon will win because thousands of new aviation jobs will be created there. I have spoken to people in the aviation industry who are excited about what is happening. There is absolutely no reason Shannon cannot be a European centre of aviation excellence. I beg the Acting Chairman's indulgence.