John O'Donoghue (Kerry South, Fianna Fail)

I thank the Ceann Comhairle for allowing this matter. Following two extremely difficult years for the tourism industry, particularly in the south west, most people will realise it is of crucial importance that we improve transport facilities into the country in so far as that is possible. Fastnet Line, the new ferry service to be operated by a co-operative of 500 people from the south west, hopes to set sail between Cork and Swansea on 1 March. It was estimated that, until its cessation in 2006, the previous ferry service between both cities generated more than €40 million for the local economy annually. As more than two thirds of its users were coming from the UK into Ireland, its loss has had a significant negative impact on businesses in the south west - particularly small businesses operating in the hospitality and retail sectors - and it is estimated that the return of the ferry will preserve and create more than 1,000 jobs in the locality in the coming years.

A total of €13.5 million in aggregate needs to be raised to ensure the business commences as planned on 1 March. Following a fund-raising drive, which received tremendous support from people on the ground in Cork and Kerry and further afield, €4 million was raised in small lots from more than 500 people and local businesses, and €6.3 million was obtained from a Finnish bank. In addition, a private equity business in Wales has agreed to invest €1.7 million subject to the remaining balance being raised. Thus, €12 million in total has been already raised or committed - representing an incredibly positive community effort in the current economic climate - but the balance of €1.5 million needs to be fully committed immediately if this business is to become a reality.

The Fastnet Line business is taking shape. Sales for the year are ahead of target, as are car and passenger numbers for the first month of sailing, which is March. The company is expecting up to 30,000 cars and 80,000 passengers to use the service in 2010, and this number is expected to grow in subsequent years. These are people who, because of the nature of their visit, tend to stay longer and spend more than air travellers. They will be welcomed again to Ireland with the return of the ferry service.

Local businesses and private individuals have been supportive of this project to date. They have invested in the prospect of a €40 million annual injection into their local economy. These smaller investors could have found numerous ways to justify not investing in the current economic climate; had they taken that view earlier this year, the project would have gone nowhere. The Exchequer will also benefit from this project, both directly and indirectly, and we now need to find a way to make this project happen for the south west by finding €1.5 million immediately. This is of the utmost urgency and importance to all those involved in the tourism industry in the south west of the country.

Since the closure of the Cork to Swansea ferry in 2006 there has been a noticeable absence of cars with yellow number plates across Cork and Kerry. This is of crucial importance to small businesses and those involved in the hospitality sector. I forecast that if the ferry is not put back in place immediately, we will see closures in the hospitality sector across the south-west region.

We are often told by the IDA, Forfás and other agencies of major investments in which employment is created. These are welcome. However, we often unfortunately forget that we have an indigenous tourism industry on which we can capitalise, in which we should invest and which can yield real jobs for real people, not just in the medium to long term but also in the short term. In these circumstances, I strongly exhort the Government to find a way for these funds to be made available immediately in order that the ferry can recommence business on 1 March and in order that we can do justice to all those involved in the hospitality sector in the south west of the country, many of whom are totally dependent on the industry for their livelihoods.

I take the opportunity of thanking the Taoiseach for the personal interest he has taken in this project from the outset and for attending various meetings with a view to providing assistance. I sincerely hope the Minister of State who is here this evening will be in a position to put forward a positive proposal on behalf of the Government.

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