I welcome the recent quarterly report by ISME, whose survey shows that there has been some easing of credit conditions in recent times, although we cannot be complacent in that regard. We must acknowledge that in previous times, credit conditions were at an artificially high level, although they have gone to an exceptional low in recent times. We are trying to strike an appropriate balance. There is some evidence that many sanctioned credit facilities are not being drawn down in full because many SMEs do not have the confidence in the economy to take on that extra debt. Thus, in the forthcoming budget, while we must work towards the four-year plan to reduce the deficit, we must also see some targeted measures to stimulate more consumer spending in certain sectors. That would clearly benefit SMEs.

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