Seanad debates

Tuesday, 6 March 2012

Action Plan for Jobs 2012: Statements, Questions and Answers

 

3:00 pm

Photo of Jimmy HarteJimmy Harte (Labour)

That is okay. I welcome any action taken to provide jobs. In the first 12 months the Government has provided much support and innovation that will be helpful in the future.

The Border counties are a special case because of the current gap with sterling. The exchange rate can move up and down by the day or week. Many businesses in Border areas are sensitive to fluctuations in sterling. Lifford is practically dead on its feet because there is an Aldi store in Strabane. Businesses in Letterkenny are waiting for sterling to get stronger around Christmas time, which is not a good way to run an economy or a business. Perhaps the Minister has a view on how to address the issue. I accept we cannot control the currency market. In good times businesses find it difficult to survive in Border areas. I am aware of start-up businesses that have gone to banks and the first thing that is said is that while the plan may be good, it may be impacted by fluctuations in sterling. That is not something a business can control. Businesses have dealt with that previously but because credit is difficult to get, they are told by banks that sterling may make or break them. The issue does not affect businesses in Cork, Galway or Limerick. A special case could be made for Border counties when we formulate a jobs policy in the future.

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