Mary White (Fianna Fail) | Oireachtas source

I refer to page 11 of Mr. O'Brien’s pre-budget submission. I have spoken many times about it in the Seanad.

I would like to hear Mr. O'Brien's view of the banks' policy on lending to Irish companies? I have formed the impression that the Minister is not hearing what companies are stating, which is that the banks are not giving out money. The British are looking at a proposal for a state-backed enterprise or investment bank. We need such a mechanism.

Let me draw the attention of the delegates to the ESRI report by Professor Tim Callan who has stated people are better off in work, not on the dole. New research from the ESRI finds that 94% of Irish people are better off in employment than out of work, even after taking account of child care and travelling to work costs. I am inclined to believe the findings of that research. There are many myths that social welfare payments are so high that there is no incentive to work. I do not believe this; it is a myth created by the troika and the OECD. That puts paid to the assertion that people are better off on the dole. I believe what the ESRI is stating.