Pat Breen (Clare, Fine Gael) | Oireachtas source

Senator Higgins said she wants Ireland to be a centre of excellence for innovation. Ireland is already a centre of excellence for innovation. This is why Ireland has been so successful on the world stage and why entrepreneurship is alive and well. This is why The Wall Street Journalhas said Ireland is now the best centre in the EU for entrepreneurship. That is something we should be very proud of. It is that entrepreneurship and innovation which is driving jobs in the country at present. The research and development that is ongoing, whether at indigenous company or multinational level, is extremely important.

This Bill will complement what we are all talking about. We should keep talking up our country because we have a good thing to talk about. Our reputation is enhanced all over the world, wherever we go. We are the fastest growing economy in Europe. Our unemployment figures have come down to 7.1% today and I believe they will continue to fall. The 2017 Action Plan for Jobs was published this morning with the aim of creating 45,000 jobs this year. This will be done through the innovative companies that continue to strive, even with the challenges and difficulties in the economy at present.

With regard to accountability, the Senator asked that the annual report would go before the Committee on Jobs, Enterprise and Innovation. I suggest the proper place to scrutinise such things is the Committee on Finance, Public Expenditure and Reform, and Taoiseach where there would be an opportunity to scrutinise it with the Minister for Finance, given this relates to taxation.

With regard to amendment No. 15, I reiterate that we are trying to cut down on red tape and bureaucracy. We have to put faith in the Comptroller and Auditor General, who has vast experience. It is only right that he would see what is on paper in front of him and make his evaluation on the information that is available. Some of this information could be on that but it is important we keep it as tight as possible.