The issue that I am raising here today relates to the Irish Stock Exchange and its importance to the success of Irish incorporated companies and, indeed, Irish investors. The decline of companies listed on the Irish Stock Exchange has been well reported, with a decline from up to 100 in 1999 to a current level of 24. This decline is in stark contrast to the growth in the wealth of the Irish economy since then.

Irish people are saving also at a higher rate than they have done before. While this is positive, some of this wealth could be used as investment in Irish SMEs as they transition to publicly listed companies. This could lead to a greater democratisation of wealth and ensure that the value created by Irish companies does not just remain in the hands of the few and, indeed, private equity.

A mechanism must, therefore, be found for savings and investment schemes which would be sensible and tax efficient to ensure ordinary people can benefit along with Irish incorporated businesses. Also, Ireland currently applies a stamp duty of 1% on the trading of shares, which is much higher than other EU states, many of which apply a 0% rate.

With all of this, can the Minister outline what steps this Government will take to ensure growth and renewal in this key area of our economy?

I thank Deputy Neville for raising that interesting point. It is clearly the case that there has been a decline in the number of companies listed on the Irish Stock Exchange since the end of the last century. The Deputy gave the statistics there. We cannot stop companies from making a decision that they no longer wish to be listed in Dublin if they have a preference to be listed on the larger stock exchanges, such as in London or New York.

The Deputy raised a number of issues that could improve the attractiveness of the Irish Stock Exchange. I will bring them to the attention of our colleague the Minister, Deputy Donohoe, who would have responsibility in this area, and I will see whether he would give any consideration to them.