Dáil debates

Wednesday, 26 January 2011

Finance Bill 2011: Second Stage (Resumed)

 

11:00 am

Photo of John PerryJohn Perry (Sligo-North Leitrim, Fine Gael)

I would like to pay tribute to the outstanding service given to Fine Gael by Deputy Pádraic McCormack, chairman of our parliamentary party. I wish him and his wife, Eilish, the very best.

I also pay tribute to the work of Deputy Jimmy Devins, my colleague from Sligo-North Leitrim. I have worked very closely and effectively with him since he was elected to this House in 2002. I found him at all times to be a man of immense integrity, having had the concerns of the electorate close to his heart. Despite his best attempts, he was very much let down by the Government when it came to the retention of critical services, those of cancer services, at Sligo General Hospital. I wish him and his wife, Mary, and family the best of good health and good luck. It was always a great pleasure to meet him and work with him as part of a team working for the people of Sligo-North Leitrim.

Turning to the Finance Bill, it has failed small companies in many ways. There are 86,000 small companies in Ireland, employing more than 700,000 people and generating €80 billion in turnover annually. They contribute to the economy in that they account for 37% of income tax receipts and 50% of VAT receipts.

At a personal level, these hard-working individuals play a central role in their local communities. They take risks, create jobs and generate enterprise. Fine Gael in government will encourage entrepreneurs to explore new business ideas, to invest and to take risks. The Government has a vital role to play in supporting new businesses and encouraging entrepreneurs to invest in and grow existing businesses, and Fine Gael in government will do that. The Government's record in this area is a disgrace. It has put billions into banks and nothing into enterprise.

Small and medium-sized enterprises represent 95% of all businesses. Of a total of more than 80,000 small businesses, 11,000 employ up to 50 staff. They incorporate the following critical sectors - accommodation and food, financial, insurance, real estate, information and communications technology, film and digital media, health care, agriculture, construction, utilities, wholesale and retail, administration and support services, and professional, scientific and technical services.

Fine Gael in government will understand the need to create an environment beneficial to the establishment of the growth of small companies and in government it will create this environment. Most important, Fine Gael will have concern for and will respect the role of entrepreneurs and small businesses. Many problems face small businesses, including undercapitalisation, weak financial structures, lack of funding from banks, difficulty in securing funding, lack of Government support and a high level of bureaucracy and red tape.

When one notes the stimulus that has been given to and the investment that has been made in the banks, nothing has been given to those business people who are the backbone of this economy. I have no doubt this economy will recover, but to kick start this economy, we need to support small companies in the retention and the creation of jobs. Rather than have 50,000 people leave this country, we should be working with bright young people with business ideas and investing in and supporting their proposals. Instead of investing money in property, Fine Gael will invest in people. It will invest in ideas, encourage people to stay in Ireland and invest in research and development in which there has been little or no investment. We will reduce the level of red tape. I heard these issues discussed on an RTE Radio 1 programme this morning and the business spokesperson on that programme said that 400 businesses will close this month. That is outrageous and it will have an adverse impact.

Speaking for my last time in this Parliament, I very much look forward to receiving the support of the electorate in Sligo-North Leitrim so that I will be re-elected with a strong mandate for the region. I wish well to everybody who has decided to retire. I have made many friends here and they are from every political party. I wish them well and continued health and good luck. I do not regard leaving political life as retirement but as a change of lifestyle. I hope those who make the change will enjoy it.

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