Mick Wallace (Wexford, Independent)

The Taoiseach claimed there is no demand for credit from small and medium-sized businesses, a point with which I disagree. Until we have a functioning banking system, it will be difficult to see any form of recovery in the small and medium-sized sector. I am aware of many businesses that have been refused credit. Despite all the State has done for them, the banks are still not open for business.

The Government's idea in respect of a strategic investment bank is extremely good. It would make such a difference if the Government manages to put such a bank into operation. I do not know whether it is going to happen. I would have thought that the institution in question would have been put in place before now. I agree that the changes in respect of PRSI and VAT will provide a major boost to the restaurant and hotel industries. It will definitely stop the haemorrhage of jobs from those industries. However, there is definitely a need for a bank that is open for business because there is a demand for credit.

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