Ivor Callely (Fianna Fail)

I wish to reiterate my call for a debate in this House on the economy, especially the housing market and its impact on the construction industry, which hosts many small and medium enterprises. Last week I made the point that financial institutions should participate in such a debate.

We are all aware of the impact the global slow down has had on the Irish economy in 2007 and the likelihood that this will continue in 2008. The availability of funds will be very important in stimulating industry and assisting those small and medium enterprises in construction for the housing market. Recent media coverage has exposed the sins of one or two people regarding certain financial institutions and I am afraid that the regulations that may ensue because of this may not assist the entrepreneurs who have been so successful in this area of industry. I ask for the participation of financial institutions in this debate to give them the confidence necessary to continue to fuel what has been so successful over the past number of years.