Dáil debates

Wednesday, 20 October 2010

Loan Guarantee Scheme: Motion (Resumed).

 

6:00 pm

Photo of Cyprian BradyCyprian Brady (Dublin Central, Fianna Fail)

I support the amendment to the motion. As far back as December 2008, the Tánaiste and then Minister for Enterprise, Trade and Employment, Deputy Coughlan, stated that every action and initiative being taken by the Government was about jobs, jobs, jobs. The actions taken then, which are continuing now, were aimed at stabilising the public finances, fixing the banking system, improving our competitiveness and making sure we were ready to take full advantage of any upturn when it came. In fairness, the Government has stuck to that plan. The vast majority of the actions have worked and are working. We continue to compete successfully with other countries in attracting foreign direct investment, as recent job creation announcements have shown. However, there is still much more we could be doing. We should be out there selling Ireland around the world and explaining the benefits of doing business in Ireland. The five-year integrated trade, tourism and investment plan is going some way towards achieving that. We had to do this back in the 1980s when former Deputy MacSharry and Padraic White, at the behest of the then Taoiseach, Charles Haughey, went out and sold Ireland as a country and a place to do business. We must continue to do that.

When we consider in detail the measures that have been put in place, it is obvious that they are not just about creating new jobs. There is an equal emphasis on protecting the approximately 1.8 million people who are in employment, which is a major responsibility for the Government. Previous speakers have mentioned, and I know from speaking to people in my own area, that many business people are struggling. Some of them have managed to adjust the way they do their business, but unfortunately, others are just not in a position to do that and are suffering. They need more support and they also need co-operation from the banks. The measures that have been established, including forcing AIB and Bank of Ireland to provide €3 billion this year and next year specifically for SMEs, must go some way towards ensuring that those companies that find themselves struggling and need extra support are able to get it.

We have also seen the introduction of the Credit Review Office. My fear is that SMEs that seek credit who are refused and continue to fight the case would be targeted for special treatment further down the line. I hope this is not happening. I know that businesses are finding it difficult to get overdrafts and credit. In the majority of cases, there are probably good reasons for that, but the measures that have been put in place should ensure those businesses which need the support get it.

The cost of doing business is continuing to come down. For many years we have listened to how over-regulation has affected businesses. We have gone a long way towards improving that. As a member of the Joint Committee on Enterprise, Trade and Innovation, I know that every effort is being made to listen to the concerns of as many small and medium enterprises as possible and to talk to the statutory agencies that are dealing with them on a daily basis. We will continue to do that.

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