Fidelma Healy Eames (Fine Gael)

Our two main banks inform us they are extending credit lines. This is not true. Last week in my office I heard about a young fashion start-up group that enjoys significant sales and is seeking a loan of just €25,000 from Bank of Ireland to go on-line. The funding has not been made available to it.

The sterling crisis is placing manufacturing businesses under major pressure. I am aware of one business with an annual turnover of €6 million where 70 jobs are at risk. The company is faced with buying products in the United Kingdom, as a result of which it will lose turnover of €1.5 million in this economy. While Ireland may be one country, it is not an all-island economy. This is an issue for the euro area.

I ask the Government to call on the banks to pass on falling European Central Bank rates to home owners faster. The Government can do much if it puts people first. Home owners should be allowed to renegotiate fixed rate mortgages to new, lower fixed rates or variable rates. The Government must act. Young couples and single people——