Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

I am afraid there is not a good balance between the investment in indigenous and overseas business. Almost 70% of the people employed in the State are employed by SMEs. Despite this, the major focus of this Government and the previous Government has been on foreign direct investment. I accept this sector is important as it makes up 90% of our exports. However, there is vulnerability inherent in it. By its very nature, foreign direct investment is mobile while indigenous SMEs are not, making the latter more sustainable in the long term. Strategically, logically and even patriotically, this Government needs to do more for SMEs. They have carried out major sacrifices over the past several years. When a foreign direct investment company closes or sheds jobs, it is in the headlines but it is not the same for SMEs. Those which have survived have not been given the necessary supports yet by the Government.

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