Paul Coghlan (Fine Gael)

I give a warm welcome to the Minister of State, Deputy John Perry. I thank him for his commitment to the House which he has attended on a number of occasions and his contributions on each occasion have been worthwhile. It is clear from the comprehensive statement he made in the House earlier in the debate that the Government is aware of the importance of the small business sector to the economy and its potential to generate employment. I agree with Senators Darragh O'Brien and Maurice Cummins that the Minister of State faces difficulties as he tries to eliminate red tape, bureaucratic madness and bungling.

I was struck by what Senator Darragh O'Brien had to say about the hospitality sector when he agreed with the stance being taken by the Minister for Jobs, Enterprise and Innovation, Deputy Richard Bruton. As someone with a background in the tourism and hospitality sector, I understand well the importance of flexibility in this context. Saturday and Sunday are part of the normal working week in the sector. Every day is the same for those trying to fill hotels and guesthouses. That is an important aspect of the debate.

I welcome the package of initiatives outlined by the Minister of State, the aim of which is to directly assist the enterprise sector. A combined total departmental budget of €980 million, comprising €366 million in current spending and €514 million in capital spending, has been allocated to the sector in 2012.

All Members of the Seanad agree with the Minister of State that access to credit and finance is the key issue facing the small business sector. This point was ably reinforced by the two previous speakers. Lending targets totalling €21 billion have been imposed on the two domestic pillar banks in the period 2011 to 2013. The introduction of a targeted temporary partial credit guarantee scheme and a microfinance loan fund should assist in the flow of credit to small and medium-sized enterprises which, in turn, should sustain employment and create new jobs. As Senator Darragh O'Brien said, we know that what has been set out in this regard is not what is being followed.