Vol. 526 No. 4
196 Mr. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment if she has satisfied herself that investment in enterprise will continue in view of the economic fundamen tals at present; and if she will make a statement on the matter. [27044/00]
Investment in enterprise has been one of the primary contributors to the development which has seen the Irish economy advance so significantly in recent years.
The healthy state of our economy is illustrated by a number of economic indicators. Unemployment has now fallen to very low levels and the numbers at work have increased by almost 50%. Output growth is running at around 9% per annum in real terms, which is well in excess of the EU average. The competitiveness of our businesses has significantly improved, and the country's exports and trade surplus have risen very substantially.
These achievements have been supported by a blend of Government policies, implemented in the context of successive partnership agreements. There has been significant investment in education, training and public infrastructure, as well as private investment in productive capacity which has been supported by grant aid from the industrial development agencies. The personal tax burden has been progressively reduced, and the low corporate tax regime will continue to provide an incentive for investment. All of these factors have contributed to creating the conditions which permit enterprise to flourish.
Nevertheless, we must guard against complacency. Much work is needed to build on these achievements, and to ensure that further progress is not threatened by developments such as infrastructural or skills-related constraints. The national development plan addresses very fully our infrastructure requirements in the coming years. Efforts to ensure the availability of sufficient skilled and unskilled labour are continuing, particularly through the Forfás expert group on future skills needs. A very significant investment in scientific and technological innovation is being made through the technology foresight fund, which will enhance Ireland's position as a centre of high-technology expertise. A range of financial support measures continue to be available as incentives to promote private sector investment in productive capacity and training, as well as in research and development.
I am confident that the combined effect of these measures will serve to ensure that investment in enterprise will be a key element of our future economic progress.
