Frank Feighan (Roscommon-South Leitrim, Fine Gael)

I take great pleasure in contributing to the debate on this difficult motion. In recent months, we have witnessed the over 70s campaigning against the loss of their medical cards and public servants marching because they feel the pension levy is unfair and unjust. These people recognise the public finances are in a mess and the banking sector, in which we all had great trust and confidence, has virtually gone to the wall. There is no confidence in the Government. There does not seem to be any leadership or unit and if the Government made hard decisions, there would be unity among all parties in the House.

The Minister has seen nothing yet. I know what is happening on the ground, as I have a business background. Business people with overheads invested in property and shares to diversify because they were told it was the right thing to do at the time. They became involved in various property schemes and so on and they indirectly funded the Government's appetite for additional revenue. However, they now are under serious pressure. The clients of most solicitors have nothing left in the tank. They have used up all their resources and not alone will their businesses fold, their employees' jobs will not survive.

The banks are not foreclosing and the Government is talking up this, but unless something drastic is done in the next six months, the Minister has seen nothing yet. Most solicitors are aware of the scale of what is happening and the banks are afraid to foreclose because that will further exacerbate a difficult situation. We are on the precipice of an economic downturn, the back of which we may not see. I have stated repeatedly in the past six months that the Government parties have not been honest with the people because they feel the people cannot handle the truth. Before the last general election, we were told it was anti-patriotic to talk down the economy and that there would be a soft landing. It is some soft landing. The people want the truth and the Government must inform them how deep is the recession. If it does so, they will be able to handle it.

The banks are not providing capital to businesses. When a business owner seeks a loan, he or she is charged a fee of €1,000. If the loan is not paid on time, the bank hikes up the interest rate. What is the Government doing about this? The Government parties say we have control of the banks but small business owners are being threatened and abused and their charges are being increased at a time they cannot afford it. Big bankers and the golden circle gambled big and lost. Many employers gambled as well because they were told it was the right thing to do. Unlike the bankers and those in the golden circle, they will not walk away and leave it to the taxpayer to pick up the pieces. They have always supported the country by paying their taxes and standing by the State. However, they need the Government to stand by them in order that they will survive. Most of their businesses will go to the wall within three months and most of their staff will not have a job and will have to join dole queues, unless something radical is done.

The debate is about the country's economic survival and not about polls or the political survival of Fianna Fáil or Fine Gael. The Government will have unity if it tells the people the truth for once.

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