Martin Brady (Fianna Fail)

I welcome the Minister of State.

I acknowledge the good work done by the Minister for Finance who I think has shown great courage. He has led like a real general, as has the Taoiseach.

There has been much talk about who is to blame, but the public wants to know whether NAMA will be good for us. Senator O'Toole has referred to other options that have been proposed, but none of them has struck a chord with anybody. We must ensure the banks are not shored up at the expense of small businesses trying to survive; they must also release money for first-time buyers and not engage in enhancing their own balance sheets. Small businesses are in decline and being attacked from every angle. The local authorities should be brought into the equation also, as rates are increasing by 35% to 40% in some cases. Local services are also being duplicated. Many things could be done to help small businesses to survive. The Minister has provided the banks with the working capital to ensure these small businesses can survive and grow. The banking community was very grateful to the Minister for the provision of capital, yet they are willing to ignore the country's need to demonstrate to the world of international finance that we have a new, transparent and progressive banking system. We must show that the country is competitive. If we do not, we will not attract foreign investment which is very important to us.

Some say others became rich during the Celtic tiger era while they remained very poor and did not reap any rewards. Economists have demonstrated time and again that this is a fallacy. On the other hand, there are trade union leaders who say they should run the country, that their ideas are much better and that we should make the necessary changes over a longer period. Where would we be if we went along with their ideas? A concession has been made to us by the European Union which does not give us that option.

Trade union leaders talk about people in big houses and the super rich. Let us get real and call a spade a spade. One cannot give what one does not have. Social partnership has served its purpose well. One may say this is not connected to NAMA, but in a roundabout way it is.