Galway Independent Column - 2 March 2011

Dear Derek, Eamon, Brian, Noel and Sean, and Ciaran, Paul, Colm and Michael,

Congratulations to all of you on your election as TDs to represent Galway West and Galway East constituencies in the 31st Dail. The majority of you represent the Political Parties that are likely to form the coalition Government that will govern our country for the next five years and some of you may hold positions of authority, power and influence in the new administration. The national challenges you face are considerable, however, the opportunities for you to positively influence the economic development of Galway City, Galway County and the wider West Region are also significant.

On behalf of the Members of Galway Chamber of Commerce and on behalf of the broader Business Community in Galway I want to take this opportunity to remind you of the priority issues that you need to tackle when in Government in order to ensure that our economy grows and livelihoods are protected:

Jobs – every job is important, existing jobs must be saved and job creation must be at the core of all Government Policies. Enterprise supports currently available from Enterprise Ireland should be extended to SMEs in traditional non-exporting sectors.

Commercial Rates – Local Government Reform must result in lower Commercial Rates for Business. The costs of ensuring a reliable supply of clean water to every business and household should be spread across business and domestic users. The Cost of Government must be reduced. The Local Government Efficiency Review Group has identified potential savings of €511 million – the implementation of its recommendations must be a priority in order to reduce the burden of costs on small businesses.

Enterprise Support – Government must provide a working capital fund to enable viable businesses access credit until the Banking system is fully functional. Access to working capital is essential to business survival and job retention and Government must step in where necessary to ensure that it is available through this difficult economic period.

Confidence and Competitiveness – Government must secure the 12.5% Corporate Tax Rate as a central plank in attracting Inward Investment and the National Debt must be managed within the capabilities of the National Finances and at Interest Rates that the country can afford. It is essential that Ireland does not bow to pressures from our EU partners, many of whom have mechanisms which help businesses pay effective rates that are much less than 12.5%.

Government commitment to Regional Development – the incoming Government must (a) secure the future of Galway Airport, (b) Deliver the Galway City Outer Bypass, (c) Support the Galway Port Development Project and (d) Maximise the Tourism potential of the West Region by investing in Tourism infrastructure.

Galway has the potential to deliver further significant revenues to the national exchequer and in so doing can play a major role in restoring the national finances. As our political representatives, whether in Government or in Opposition it is incumbent on you to ensure that Galway is provided with the physical (Galway Airport, City Outer Bypass, Ceannt Station, the M18, and Galway Port) and technical (Broadband) and Tourism (Concert Hall, Art Gallery, School of Music, Conference Centre) infrastructure necessary to maximise job creation. The emerging Energy Sector affords the West Region the opportunity to take a leadership role in Wind and Wave Energy technologies and the Corrib Gas Project must be brought to fruition.

Over the last two years our country and our economy has had to deal with an unprecedented downward economic spiral – the collapse of the construction sector and with it the collapse of our banking system, the massive destruction of personal wealth, the return to high levels of unemployment followed by mass emigration of talent and experience, the erosion of control over our national finances and most recently the implementation of severe austerity measures.

From the dark economic days of the 1980’s we have proven that we can successfully overcome high inflation, high interest rates, high unemployment and mass emigration to create a prosperous country which was the envy of the world. The challenges facing the new Dail and the new Government are immense but not insurmountable provided the correct decisions are taken in relation to our national finances, provided the new Government acts courageously in tackling wasteful public expenditure, and provided enterprise across all sectors is supported and encouraged.

You all have a key role to play and we wish you every success – our futures depend on your success.

Michael Coyle
CEO
Galway Chamber of Commerce