Mick Wallace (Wexford, Independent) | Oireachtas source

The Minister of State stated that there were too many retail units anyway. With seven a day going out of business in Ireland at present, I would say that we have gone past the mark at this stage of what should be sustainable.

Returning to finance and the retail sector, should I take it from the Minister of State's last reply that we should forget about the strategic investment bank?

He stated that banks should not give money to someone who would never give it back, and I agree. If I had a bank, I would like to get it back as well. Given that the State owns the banks, if the banks were to go for their best option they would be investing outside the country, which many of them are doing, rather than giving it to local enterprise or businesses.

As Deputy Perry will probably be aware with regard to retail, rates are being revised in Dublin at present. I have one particular unit, on which I got word two weeks ago and on which the rates were already one third of the rent. I have just been told that my new rate is 40% higher. How, in God's name, is that realistic? Do those coming up with these figures know anything about the problems businesses face?

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