Mr. Tommy Murray:

I wish to comment on SMEs and their access to finance. During our Presidency, at the beginning of May, we will devote an informal competitive Council to SMEs and better regulation. It will be an important focal point for our Presidency in terms of dealing with the SME problems, especially access to finance, venture capital funding and the ongoing internationalisation of SMEs. It is an important issue for the Department and one that we can highlight during our Presidency and, as the Minister of State has said, to promote entrepreneurship and pursuing the entrepreneurship agenda.

To crystalise our Presidency agenda I shall mention four aspects. First, open trade and guarding against creeping protectionism; second, opening up the Single Market, services and examining regulated professions throughout Europe - for which another Council debate will be held on the issue - plus penetrating the Single Market in that respect; third, the industrial policy area is important for us and I have mentioned some of the sectors. The Minister of State had already referred to the cloud computing sector which is close to the Minister's heart; and, fourth, the research and development sector and trying to get significant advancement of the €80 billion Horizon 2020 package. Also included is competitiveness and the SME package which is €2.5 billion at present. That will be the Department's work during the Presidency. We will also promote key dossiers and key communications reached in open trade, Single Market, industrial policy and research and development sectors.