Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I apologise in advance as I will have to leave straight after I speak.

I welcome the Secretary General and his delegation. I also welcome his comments on Forfás. I acknowledge the presence of Mr. Martin Shanahan and pay tribute to him and all the team in Forfás for their work. I knew it was to be morphed into the Department this year and ask the Secretary General to comment on this as the transformation process happens. Will he give a commitment that the research budget of Forfás will be ring-fenced within the Department and that the independence of Forfás will be maintained in terms of research? At times it publishes reports that challenge the system.

On the Action Plan for Jobs, I am not enthusiastic about it. There is no doubt that progress has been made, which is a tribute to many people, including the delegates and many agencies. However, I am frustrated that one publishes the fact that 92% of actions are achieved because when one begins to drill down, it is very difficult to get the details.

I want to focus on the issue of finance for SMEs. It has been stated the two pillar banks, AIB and Bank of Ireland, have lent €2.5 billion, a figure we accept to be true. However, when I sought details in a parliamentary question to the Department of Finance as to the where the money had been lent, whether it was to be used for new facilities or to refinance existing facilities, I was informed it could not share the information because it was commercially sensitive. How are we to judge the quality of the lending of €2.5 billion in supporting business and creating employment?

The Secretary General mentioned the new instruments, Microfinance Ireland and the credit guarantee scheme. Microfinance Ireland's team appeared before the joint committee in October when it made a very good presentation. Will the delegates bring me up to date and indicate whether there has been a change in its staffing? It had lent €2.16 million up to the end of last year and the plan was to lend €8 million. What difference will we see in the Action Plan for Jobs 2014 in the case of Microfinance Ireland? Similarly, under the credit guarantee scheme about €68,000 is being lent per month. The target was to lend €150 million. What other changes will we see in that regard?

In regard to IDA Ireland, its recently appointment chairman, Mr. Frank Ryan, appeared before the committee before Christmas. Its end of year report showed that it was not reaching its Horizon 2020 targets in terms of having a regional spread. It has been mentioned that it is important we do not lose our competitive gains as the economy begins to grow. That was a major problem as it grew the last time. If we continue to coral inward investment in Dublin and Cork - 64% or 65% of prime business went to Dublin and Cork last year - it will drive up property and service prices. In the meantime, the rest of the country is not being given a chance to grow. I genuinely believe we are in a position to begin to put pressure on in terms of legal fees and property prices that skewed our competitive position on the last occasion. Will the Action Plan for Jobs 2014 include a provision to address regional imbalances to have more of a focus on the regions in terms of inward investment?