Paudie Coffey (Fine Gael)

I intend to share my time with Senator Cummins. I also welcome the Minister of State to the House. Yesterday we raised the predicament in which Waterford Crystal finds itself regarding sustaining its future, which is a matter of national significance. Being from the south of the country the Minister knows well what Waterford Crystal means not only from a manufacturing perspective but also to the tourism industry of Waterford city, the south east and the country in general. It is an iconic international brand and a flagship tourism attraction. It is one of the top visitor attraction sites in the country which hundreds of thousands of tourists visit every year. There is a spin-off value that cannot be underestimated to the hotel and restaurant trade. The luxury liner industry coming in to Waterford estuary has been developed over the years.

As the Minister of State knows, manufacturing in general is under major pressure in Ireland owing to a lack of competitiveness and we are beginning to see the effects being hammered home where good jobs are under serious threat. Thousands worked in Waterford Crystal at one stage. It has consolidated and restructured to respond to the new economic challenges it meets. Some 500 jobs are on the line if the company cannot find a sustainable future. The Minister is aware that a request was made to the Government to underwrite a loan of €39 million and this has been declined. I am interested to hear what the Government proposes to say to this company and how it can assist it to remain viable and sustainable into the future.

We talk about protecting our heritage and art. This company is living heritage. It is manufacturing, but also a living, working part of our heritage and a tourism attraction that cannot be built up again once lost. That is the significance of this issue. The Government said it could not guarantee the loan but would consider future requests from the company for conventional forms of financial assistance. I would like to hear specifically what is meant by that and what assistance the Government can offer to this company. I hope the Minister of State will outline this in his response. I call for the Tánaiste and her officials to meet the officials, management and union leaders of Waterford Crystal to see if a workable mechanism can be found to sustain this company. Members on all sides of this House must do all in their power to protect jobs and that is what we were elected to do. I call on the Minister of State to make a direct intervention in this issue and see what support can be given before it is too late.