Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Go raibh maith ag an Teachta Adams. Glacaim lena dhea-ghuí maidir le hUachtaránacht na hEorpa a bheith ag Éirinn. Bíodh sé cinnte go ndéanfaimid ár ndícheall chun é sin a chomhlíonadh go hiomlán.

I can send Deputy Adams the details of the progress being made on the stimulus package announced by the Minister for Public Expenditure and Reform last year, including the much commented upon primary care health centres, the Grangegorman development, and the major roads developments of Newlands Cross, Gort, Tuam, Ballyvourney and Macroom. Facilities that are the responsibility of the Department of Justice and Equality and the schools initiatives are under way. I would like to see much more. The European Investment Bank is of a mood to invest more in sustainable projects in Ireland. I can give the House the details of those.

The legislation the Deputy refers to should be published during this session and will lead to the creation of NewERA which will, in turn, lead to serious investment in major projects amounting to several billion euro. We have some work to do to finalise the Bill. The negotiations in which we are involved at a European level have the potential to relieve the extent of the country's debt. That will be important psychologically, but economically it will mean that investors and markets will understand that Ireland is in a more relieved economic situation than heretofore, it will be easier for banks to borrow on the market, which they are now tending to do, interest rates will be lower and more flexible and credit will be available for small and medium enterprises to expand and create employment. That is another reason the NPRF made €850 million available in the last fortnight for lending to small and medium enterprises in three different sectors. All these things are to be welcomed.

Many small business people have come through a very difficult time in recent years. I note, however, that 55% of small business now say they expect to employ people in 2013. They are investigating the potential of online sales. The challenge for Government, the Department of Jobs, Enterprise and Innovation and the local enterprise offices is to explain to small operators what credit is on offer and the assistance that can be given through budgetary measures such as PRSI and VAT reductions and whatever the Minister for Finance may decide to add to the Finance Bill. The Deputy is aware that the Minister included ten measures in the budget. Each individually was not of major significance but collectively they are an opportunity for small businesses to make their way to becoming thriving enterprises and employing people.

I expect the legislation during this session. We will have an opportunity to debate it in the House. If we get this right, it will provide capacity for investment in worthwhile projects. I will publish the details of the progress being made on the stimulus package announced by the Minister last year and the preparations for further bundles of schools, facilities under the Department of Justice and Equality and a number of remaining major environmental issues that need to be dealt with.

See this speech in context