Peadar Tóibín (Meath West, Sinn Fein)

There are 180,000 small businesses in the State, many of which are grinding to a halt because of the glacial credit flow into the country. Some 1,600 businesses or companies crashed last year, which is not to mention sole traders. Since March last year the European Progress microfinance facility has made available €500 million in microfinance, with 11 countries in the EU drawing down funding. Yesterday I asked the Minister of State responsible for small business, Deputy Perry, how much had been drawn down by Ireland. We have drawn down none of the money.

We have heard lofty rhetoric from the Tánaiste to the effect that creating jobs is the main priority of the Government. There are 180,000 small businesses which cannot get credit and yet the Government will not draw down funds from available cash in the European Progress microfinance facility. Do not believe the rhetoric.

See this speech in context