New business development group announced

Tánaiste Mary Harney has announced plans to establish a group of businessmen to help develop the business sector in Ireland.

The Tánaiste said the group will be chaired by Eoin O'Driscoll, managing director of Lucent Technologies' Irish operations.

It will explore how to attract hi-tech investment, boost domestic output in the hi-tech sector and encourage start-up companies.

It will also examine how to improve competitiveness in Irish industry.

But Fine Gael Finance spokesman Richard Bruton was quick to rubbish the group, saying it was a waste of time as most of the problems in the Irish economy were created by the Government itself.

"Out of the top five problems, four of them - inflation, road transport, insurance costs and broadband availability - these are directly within the control of the Government," he said.