Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

That chain will be broken. There is accountability to the Oireachtas for funding given through a national organisation such as Enterprise Ireland, given that the accounts of each CEB are laid before the Oireachtas. That link will be broken when the money is dispensed through local authorities. In line with the Chairman's strong opinions on this matter, the committee might consider contacting the Minister to ensure that an audit trail for State funding is not lost in the local authority system. This committee has no authority in that regard. I know that it is not the Chairman's decision.

Turning to the issue of banks and small and medium-sized enterprises, SMEs, I have read Enterprise Ireland's report. It is working with the banks and encouraging them to concentrate their lending in strategic economic growth areas. Encouragement is good. Are the banks doing it? I am encouraged to see that Enterprise Ireland has held international forums in London. Many of its client companies are meeting overseas contacts with international management experience and knowledge of technologies. If Irish banks are not lending, is there an opportunity for some of the foreign banks to invest in Irish manufacturers on advice from Enterprise Ireland? Let us say that some of the companies that Enterprise Ireland deals with export to and have a strong presence in a particular country. Is Enterprise Ireland exploring the possibility that such companies could source financing from banks in that country?

It was stated that Enterprise Ireland had 97 high-potential start-ups. How does it identify a high-potential project? We are all approached by people who believe they have high-potential ideas. They are normally directed to the enterprise boards and so on. I believe there was a simple rule of thumb that an organisation with fewer than ten employees went to the CEBs while an organisation with more than ten employees went to Enterprise Ireland. Will this link remain?

The main issue facing most of Enterprise Ireland's client companies is the level of overhanging debt. Many may have invested in premises, machinery and upgrades during the good times - the expensive times - and are now carrying large debts. These debts are not core to manufacturing, exporting and finding new markets.

I understand the troika is looking at the issue of relief for mortgage holders. There also needs to be relief for small businesses, many of which have tremendous potential but are possibly being held back because of an overhang of debt, servicing of which is preventing them investing in job creation. Has Enterprise Ireland asked that this issue be raised with the troika? I understand they specifically mentioned this topic on the last occasion they were here?