Paul Coghlan (Fine Gael)

The biggest problem we have at the moment is stagnation and the fear of stagnation. Business is being choked because lending to business has virtually ceased. I am talking about very necessary working capital. Small and medium sized enterprises throughout provincial Ireland - no doubt in the capital as well - are being consistently refused working capital by all financial institutions at the moment. The State gave great assistance to the banks, which was necessary to revive our economy. We all recognise the banks have a huge role to play in reviving the economy. However, we need to remind them that they have a very important role to play in serving the economy if we are to get things moving again. Lack of capital leads to stagnation. The Government needs to be more assertive in getting credit flowing again, as it is in a dominant position vis-À-vis our banking institutions, due to the great assistance rendered to them. However, the assistance is receiving no response. The Tánaiste spoke of a scheme being put in place, but if it is necessary, we need it today rather than tomorrow. Let us do it now and get things going again.

Senator Burke raised an extremely important issue. The regional guidelines are governing so much in respect of our individual counties, as we all appreciate. I echo the Senator's words as we need that debate very soon.