John Paul Phelan (Fine Gael)

I have just come from a meeting where we discussed figures contained in an ESRI report which clearly indicate that the worst is far from over. The number of small businesses that closed in the last nine months compared with last year and the previous year has risen. This clearly indicates that the worst is far from over.

It is important to set targets. I reject the Minister of State's comment that the Fine Gael motion was proposed in haste and should not be acted upon. We acted in haste, correctly, to save our banking system. It had to be done. These proposals were not drawn up in haste. There have been large-scale closures in the SME sector over two to three years. There is nothing hasty about this.

I agree with much of what Members on the Government side said but the initiatives outlined in the amendment are not having an impact on the ground.

The Minister of State criticised the Opposition for its daily negative rhetoric. We are not indulging in rhetoric; we are putting forward genuine proposals. Almost 100 countries, including our nearest neighbours in Britain, have similar loan guarantee schemes. Neither Deputy Perry nor I would for a second claim our proposal is perfect but the Government's efforts are not working. We have to reflect the views of the people we meet on the street who are involved in small businesses and who tell us about their difficulties in accessing credit. That is not negativity; it is the truth. We have engaged in the blame game over recent months but now we are all agreed on the need for consensus and progress. We know what has to be done but I am not convinced the Government's proposals to maintain and create employment have borne fruit.