Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

Similarly, I want to raise with the Taoiseach the lack of pace with which his Government has responded to the economic crisis. Deputy Boyd Barrett quite correctly raises the case of the taxi drivers, but I can cite a more general example in the credit guarantee scheme, which represents a vital lifeline for business as the economic crisis has deepened. We made the case for the removal of the 50% portfolio cap for this guarantee scheme for small and medium enterprises a full two months before the Government relented and adopted our policy.

By the way, the credit guarantee scheme came to be in Ireland months after similar schemes were introduced and up and running in other European jurisdictions. Similarly, the stay and spend tax refund scheme is clumsy, awkward and falls well short of what is required for tourism and hospitality. We are second only to Spain in terms of jobs losses in the second quarter of this year. We have levels of youth unemployment that are eye-watering and terrifying, and I see no sign of any response or thought-out plan for that. It is very disappointing. If the Government deals with unemployment and particularly youth unemployment in the same slow, clumsy manner that has become the hallmark of its economic response, we will be in very big trouble.

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