Sean Barrett (Independent) | Oireachtas source

We are pretty near the equilibrium. We must ensure that what we get is not dissipated through bureaucracy. There are concerns, including among Government Senators, about projects such as Leader and so on.

I share Senator Quinn's concern about the Common Agricultural Policy, CAP. It might have made sense a long time ago. If we have the same climate and environment as New Zealand why do we not engage in the same type of agriculture? World food prices are rising. Let us work towards free trade and participate in the development of the Union.

The fear is that subsidies capitalise in higher land prices, which make it difficult for young farmers to get into agriculture. When the subsidies were removed in New Zealand, land prices fell and young people did get into agriculture in that country. If the Seanad exists to make points that might not be made in the Dáil, it may be beneficial. I may be the only Member of the Oireachtas who believes the CAP deserves a good looking at. I wish the Minister of State all the best with her projects.

With regard to the Cohesion Funds, we did build some motorways with EU money. There is a capacity of 55,000 whereas the volume of traffic is about one tenth of that. Professor Patrick Honohan pointed out that one must move to project appraisal at some stage, and not just macro-economic modelling of the result of EU funds. We are short of finance for so many projects. Let us achieve the best value for the funds we receive from the Union.

I wish the Minister of State every success in Washington on St. Patrick's Day. I hope that, on that day, the President of the Council of the European Union, namely, the Taoiseach, Deputy Enda Kenny, and the President of the United States, Mr. Barack Obama, will announce the free trade area agreement. We should not wait until June until some other meetings. Europe takes too long to make these decisions. We should make the decisions for it.