Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

First, I agree that we do not go out thinking that our employment challenge is cracked. On the other hand, it is fair to point out that there has been a good regional spread. In 2013 every region of the country saw an improvement in employment, but not at the same rate; clearly, regional challenges remain. To address that challenge we will be introducing a framework for a regional enterprise strategy in the next couple of months. We will sit down with regional interests, starting with the midlands and the south east, to look at the scale of the challenges, the resources and how we are using the assets, what can be sweated further and what collaborative initiatives we can take. We are conscious of the need to get a strong regional response. I think the Deputy is painting an inaccurate view of what is happening. Money for business certainly remains a key issue. The Government has been determined to bring in non-bank sources of finance. At the last count the amount was close to €3 billion, according to the strategic investment bank, the developed capital funds and the various new funds we have put in place. There is a much bigger range of options, therefore, but our ambition is to develop that source of finance.

A slightly encouraging aspect to bear in mind is that the number of bank refusals is decreasing. As the Deputy has pointed out, the banks need to do much more work to understand various sectors. I will not go into the construction issue as that is a separate debate. I agree there is a need to find equity sources in the construction sector, as the banks have retreated from lending. That remains a challenge.

The cost of business is undoubtedly a continuing theme. We have looked across our Department at how we can have an impact on that, and have sought to improve in all areas. We have cut the time required to process a work permit, to appear before a rights commissioner and to set up a company and get it under way. Overall, we estimate that the administrative reductions implemented, some of which were before my time, have been worth €207 million. The Deputy is right in saying that the broader issue remains. We need to look at opportunities to improve the competitiveness of different costs. Some international costs drive them but some are within our own control.

On the Forfás savings, there is no doubt that Forfás has been affected by the downsizing of the public service generally, which is a smaller operation. The savings are not large in terms of the dissolution of the board; we estimate that they are only around €200,000. The real gains are that we have shared services, such as ICT, and better management of some of the processes, including pensions. The real aim of this was to get policy capability into the Department in order that we can better manage the resources under our control.

Furthermore, we can develop new initiatives, scrutinise what we are already doing and develop them. The committee members have rightly highlighted that they want to see performance indicators. They give us the capacity to do more evaluative work and to drive performance orientation.