Peadar Tóibín (Meath West, Sinn Fein)

The Government is a capable one and I understand that it will not be able to control international oil prices, but certain measures, such as creating an interconnector between Ireland and Britain and improving the grid on this island, would make the liquidity of energy more competitive and cheaper for local businesses.

The interest rates issue is a massive one for Ireland. Individual businesses are encumbered, meaning they are suffering as a result. Small businesses are not receiving loans, with 79% finding it difficult to get them. With rising interest rates, businesses consider the future will be worse; therefore, expectations are holding them back from getting loans. The ECB is providing a pro-cyclical policy through its interest rate rises. It is bad enough that the Government is standing back and stating it cannot do anything about it; if this is such a key element of the economy, it should go to the ECB and state the economy must be taken into consideration, not just the German economy, when considering interest rates in the future.

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