Leading businessmen praise his contribution to Irish life

Business community: A number of business figures yesterday paid tribute to the contribution to the economy made by the late Charles Haughey during his political career.

The director general of employers' group Ibec, Turlough O'Sullivan, said all concerned with the welfare of the economy owe gratitude to Mr Haughey for bringing a sense of national unity in 1987 which led Ireland from near bankruptcy to being the envy of our neighbours.

"His contribution to Irish life spanned most of the second part of the 20th century. His imaginative and courageous approach to political life has left a lasting impact on our lives."

John Magnier of Coolmore Stud, appointed to the Senate by Mr Haughey in 1987, praised his contribution to the bloodstock industry. "We would like to express our condolences to the family and friends of Charles Haughey on their sad loss.

"It is widely recognised that the transformation of Irish bloodstock breeding from a cottage industry in 1969 to a world-class one today can be largely attributed to his far-sightedness and strategic thinking.

"The introduction of a tax exemption on stallion fees enabled Ireland to build on its natural attributes and to stand the best stallions rather than exporting them, benefiting the rural economy and associated businesses."

The chairman of the Smurfit Kappa group, Dr Michael Smurfit, in a comment through a spokeswoman, said: "I believe history will be kind to him."

The chief executive of the Irish Nationwide Building Society, Dr Michael Fingleton, said: "The building societies of the day, all 10 of them, owe a huge debt of gratitude to Mr Haughey, who on his return to government in 1987, following a meeting with myself as chairman of the Societies Association, instructed the immediate preparation of new legislation for the societies which was implemented in 1989."

Temple Bar Cultural Trust (TBCT), formerly Temple Bar Properties, expressed deep regret at Mr Haughey's death.

Mr Haughey was a primary supporter of the regeneration of Temple Bar as Dublin's cultural quarter and made far-reaching contributions to supporting artists and the arts in Ireland, it said.

TBCT chief executive Dermot McLaughlin said: "Mr Haughey's vision for Temple Bar has been fully realised.

"Today the area is brimming with artistic and cultural activity, 400 small businesses, up to 70,000 visitors come here each day and there is a stable residential population of around 3,000 people."