The Labour Party and this Government abolished it.
It is clear that every available penny of Cohesion Funding will be drawn down so that there will be no loss to the Exchequer. To put it another way, if a person who has to build 100 houses receives a fixed grant it is irrelevant how the money is distributed as long as the houses are built. We have to build a sewage treatment facility and install a water supply for every urban centre. However, the building blocks are constantly moving, so to speak. Those involved in schemes bid for Cohesion Funding and if they are rejected they are considered for regional funding, Structural Funding and finally domestic funding. This happens all the time.
Every penny of Cohesion Funding will be drawn down. The maximum investment is taking place. I have announced an investment in water projects of £150 million which is by far the largest investment in water and sewerage schemes. This investment must continue in future if we want to put in place the necessary infrastructure which will enable the country to thrive into the next century.
It is very important not to regard every view expressed by an official of the European Commission or a Commissioner as holy writ so that we argue our case. Ministers of all other nations fight their corner at Council. I am proud to have done this on behalf of Ireland and will be proud to do so again. It would be a mistake not to fight Ireland's case or defend our good interests. However, this seems to be the attitude adopted by the Progressive Democrats in this debate.