Cathal Crowe (Clare, Fianna Fail) | Oireachtas source

I wish the Minister of State, Deputy English, the very best as he takes up his new portfolio. I look forward to working with him in the months and years ahead.

In many ways, microfinance loans have been transformative for rural Ireland. Small and medium enterprises provide the backbone of employment opportunities in counties like Clare. It is true that we have Shannon Airport and one of the largest industrial clusters outside the capital, but the adult population of Clare, made up of people who are all available and willing to work, depends hugely on the county's 8,700 small and medium enterprises. Most of those businesses employ fewer than ten people but, collectively, they have major firepower, providing approximately 35,000 jobs in the county. Given their considerable share of the labour market, it is right that these businesses should be supported by the Government as the country tries to get back on its feet and back to normal operations.

Small and medium enterprises, along with microenterprises, urgently need access to liquidity to ensure they can function, remain solvent and, we hope, emerge in a stronger position at the end of this economic crisis. While direct grants are always desired, access to loan finance forms an integral part of the solution. The key factors for business owners are the cost, by way of interest rate, and the term, that is, the length of time in which the loan must be repaid. In recent weeks, County Clare has seen a marked increase in applications to Microfinance Ireland as businesses seek liquidity to recommence operations. Some approved applications have enabled companies to keep their head above water and remain solvent. Others have enabled businesses to repurpose their operations in a new health-restrictive environment. Many business owners have successfully availed of loans but others, including a self-employed fisherman in the western part of my county whom I spoke with earlier today, have been told the money has run out. It is of urgent importance that we pass this legislation so that he and many others like him can continue to have access to money for their businesses. I pay tribute to Padraic McEllwee and his staff in the local enterprise office in County Clare. They have been an amazing source of support to fledgling businesses and to the business owners who have needed a great deal of advice in recent months.

I ask the Acting Chairman to indulge me in speaking very briefly on a pressing issue regarding Shannon Airport. It is hard to raise such issues because of the way business flows in the Dáil. I just came from the Department of the Taoiseach where the matter was under discussion. More than 230 people are directly employed at the airport and, as of yesterday, they are hearing talk of lay-offs, career breaks, redundancies and pay cuts. It is hugely devastating for them. Shannon is Ireland's second international airport but it is ailing and will need Government support. We have a task force reporting in about a week's time and we must have an intervention soon. I hope the Government will step up as far as Shannon Airport is concerned.

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