Marc MacSharry (Fianna Fail)

To add to Senator Coghlan's comments, I ask the Leader to make direct contact with the State representative on the board of Allied Irish Banks, Mr. Dick Spring, to request an explanation as to how this matter arose, whether an application process was in place and, if so, how it was managed. This would enable the House to deliberate on how the process was completed.

Following the enactment of the National Asset Management Agency Bill last week, I request that the Leader ask the Minister for Finance when, under section 2(10) of the Bill, he proposes to issue guidelines on making credit available to small and medium-sized enterprises.

I call for an urgent debate on the Border counties, specifically the issue of cross-Border shopping. There is a serious anomaly as regards the VAT rate which stands at 15% north of the Border and 21.5% here. As many Senators will have noted from media reports, the Tánaiste and Minister for Enterprise, Trade and Employment stated at the weekend that people must decide whether to support Her Majesty's Government or employment in this jurisdiction. I do not blame people for seeking value for money in these difficult times. However, there is an onus on us to take an innovative approach to the VAT rate in the forthcoming budget, perhaps by adopting the French model of applying different VAT rates to different products. This would ensure people would obtain value for money. The House should have a debate on how we can best achieve this objective and provide supports. I also pay tribute to the retailers of the north west, especially those in Sligo who have shown a lead in launching the fair dealers campaign. A group of retailers throughout the north west have come together to slash their prices and give value for money in light of the changed economic situation we are in and to compete with an unfair playing field a few short miles away which has a different VAT rate. They say it is as easy as ABC to support the economy because it assists economic recovery, benefits local services and creates local jobs. We in the Oireachtas must do what we can to adjust the VAT rate to help such people compete and give families value for money, which is what they want.