Alice-Mary Higgins (Independent) | Oireachtas source

There is an opportunity cost that has been lost. The idea is that the State will gather the money first but we know that not all large-scale investment firms and other funds move to gather the money first. In many cases, they look to the future dividends.When we as a State invest up front, it will not necessarily be about spending dividends and revenue but about creating future social and economic dividends. Sometimes that does require upfront investment. It is like the idea that sometimes a coat of paint is not the best solution when dealing with things like substantial dry rot or a need to make a major change. That is why we have the financing systems.

This is my last and a vital point. The one point on which I disagree with the Minister as far as the entrepreneurial state is concerned is in respect of the vaccines. We cannot afford that to be an entrepreneurial or business opportunity. The Minister, Deputy Stephen Donnelly, here in the Seanad yesterday acknowledged that we should support a TRIPS waiver. The Minister of State, Deputy Troy, has acknowledged that we should support a TRIPS waiver. I urge the Minister and his party in government to ensure we support that. We cannot have the EU exporting the vaccine to the world because that means its member states are the only ones manufacturing it. This is a point on which we need to move beyond the European Union perspective. A TRIPS waiver is one of the most vital decisions we would make.