Mary White (Fianna Fail)

My pet subject is the lack of liquidity in the economy for small businesses. I pleaded this with the Minister for Jobs, Enterprise and Innovation, Deputy Richard Bruton. Why does the Minister not listen to the Governor of the Central Bank who said it was twice as difficult for Irish companies to get cash to create and develop more business? It is the small and medium businesses in this country that are creating employment and which are, in fact, much more labour intensive than the multinationals which are capital intensive. Money is not available for these businesses. The Governor, Professor Honohan, stated that there are much tougher restrictions in this country, with more collateral required, higher interest rates, etc.

Earlier, just after the Minister of State had left the Chamber, I stated I did not understand why the Government is sticking its head in the ground. It is in denial. Does this Government understand business? It is not an academic exercise. Business people know there is no liquidity. Our taxpayers put €63 billion into the banks we own but they are not passing the money on to the people who need it, in small and medium-sized businesses. I could continue on that point for a week but I will not as I am trying to do it in a nutshell.

I draw attention also to the current low rate of inflation. The reason is nobody is spending any money so there is no demand in the retail area. There is a myth that it was the Government which improved competitiveness in this economy. Competitiveness was improved by private sector companies which cut their cloth to suit their measure and employees who were prepared to take a reduction in their wages. What is our Government doing? We are becoming uncompetitive again thanks to its charges - for waste and rent and the increased transport and energy costs. It is not hifaluting economics. The Government is adding to our uncompetitiveness. It must address this. I am mystified by this Government. I am mystified as to why the Minister of State's colleagues, who are all very nice people-----