Denis Landy (Labour)

Perhaps the Minister of State will elaborate further on that point in his concluding remarks. Further consideration needs to be given to that sector. I am sure the Minister of State is familiar with Kildalton Agricultural College, which is located only a couple of miles from where I live, albeit in County Kilkenny. It is massively over-subscribed in terms of applications for courses on an annual basis. As stated by Senator Healy Eames not only mainstream farming but side products of it are affected. Those involved should be cut some slack.

In terms of the current banking system, how will take up of the €3.5 billion available this year be monitored? ISME published its most recent quarterly report last Monday, which states that 54% of SME applicants were refused credit by the banks, which is phenomenal. There is breakdown in terms of what the Government wants to see happening with that funding and what is actually happening. We are half way through 2012. I am concerned that by the time we reach December no real amount will have been drawn down and that money will remain in the banks who will be saying those who applied for loans did not qualify. There is a need for clarity on this issue.

I welcome what the Minister of State is doing in terms of this legislation. Like everything else he is doing in his ministry in terms of getting people back to work, creating employment and thinking outside of the box, it is extremely positive. However, I plead with him to ensure the banks are brought before us so we can quiz them on this issue. We effectively own the banks and they should be answerable to us.