Seymour Crawford (Cavan-Monaghan, Fine Gael)

The issue of the availability of finance has been discussed by my colleague, Deputy Richard Bruton, the Minister and many others. This is the nub of the Bill. If we do not ensure finance is made available to small businesses and others, there is no chance of us getting out of the current difficulty. I urge the Minister to strengthen his amendment to the Bill. There is no use in using the word "may" because that means nothing. This must be changed to "will" if it is to mean anything.

I have come across small businesses that are being asked to do the impossible by banks. One business I was in contact with recently wanted to have its loan restructured and had already paid off approximately a quarter of what was owed. The loan related to investment land that the business was walked into purchasing and had missed the opportunity to get out of. The owner of the business told me the banks wanted the money repaid within six months, wherever the money came from. There was no such thing as renegotiation or an extension of time. The banks did not care whether repaying the loan involved the sale of the family home or whatever. When I talked to the senior banker dealing with the issue, I was told that was normal. I do not see anything normal about such situations. This should not be allowed.

I received a telephone call the other day from a person involved in the milling business who supplies meal to pig farmers. He explained the seriousness of the situation that industry is in to me, simply because business people cannot get their loans extended or revised. He told me pigs would be dying by Christmas if something is not done. This demonstrates how serious the issue of finance is currently. The issue must be addressed.

I participated in the British-Irish Parliamentary Assembly in Swansea the week before last. The junior Minister from the Welsh Assembly with responsibility for skills emphasised the fact that Wales also had a banking problem, but the Welsh Assembly was providing funds to businesses that could show they had a reasonable chance of success so as to ensure that they would not go under. NAMA may be the answer here for the long term, but we must consider some other answer for the short term, particularly for mortgage holders, small businesses and farmers. These are important sectors and should not be ignored. ACC and NIB have been mentioned as being the most difficult to deal with where businesses are concerned. They are not part of NAMA, but they cannot be ignored when it comes to finance and lending. ACC is winding down and getting out of business here, but we must ensure that it does not take other people out with it.

As a Deputy representing a Border county, I appreciate the fact the Minister has taken account of those non-NAMA banks in other parts of the Bill. This is necessary because in many cases non-NAMA banks are part owners of property in which NAMA banks are involved. We must deal with these in a sympathetic way.

During the last crisis in farming, many farmers got out of their difficulties by selling sites. I wish to warn the Minister that he should be very careful that the 80% tax does not affect such situations. If a farmer or business person needed to sell off a site in order to retain liquidity, it would be senseless and pointless to make them pay 80% tax on the sale. The tax is penal and while I understand there may be reasons for it, the issue must be handled carefully. I urge the Minister to make it clear that such people will not be affected by the tax.

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