Eugene Regan (Fine Gael)

I do not know why there is such opposition to a debate on the Greek bailout and the situation in Greece. The debate should be welcomed because this clearly is a new financial crisis and we have lessons to learn from it. Potentially it has very serious implications for this country.

I want to draw the House's attention to an article in The Irish Times yesterday, "State cuts fund to help enterprises by €22 million". It refers to the enterprise stabilisation fund and I want to ask the Leader if the Minister for Enterprise, Trade and Innovation could explain to the Seanad whether we have an enterprise policy. This fund was announced in April 2009 and it was considered a sign of the Government's commitment to helping companies survive the downturn. The article says there is no record to show the reduction to the fund was ever formally announced. That is par for the course, because the Enterprise Ireland budget has been reduced this year by 40%, with no formal announcement of that fact. In fact, one of the main elements of that budget, which is designed to assist investment in sustaining companies, has been reduced from more than €80 million to €25 million. We have had many announcements about the new initiative to support companies to locate people overseas, which is €10 million, but the 40% reduction in the budget must be addressed. The whole idea was to help companies to maintain jobs and yet the budget of Enterprise Ireland has been gutted and we can see this enterprise stabilisation fund has been quietly shelved and reduced considerably.

I ask for this debate in the context of the policy of the Government on enterprise. I have a situation in my constituency where local business people set up an enterprise, a bus service from Dalkey, the Patton Flyer, to Dublin Airport. It was refused a licence for more than three years by the Government. The licence was awarded to a non-Irish operator. I just do not understand where this Government is going in relation to promoting jobs, because all the indications are that it is going in different directions. It announces initiatives, but it is not fulfilling commitments.