Mary White (Fianna Fail)

I support what Senator Cullinane had to say. Yesterday, I attended the AGM of Lir Chocolates in Navan which employs 200 people at which I was told by my colleagues that there is a serious cash flow crisis in the business system. While previously suppliers allowed 60 days in respect of payment, they are now seeking payment within 30 days. As such, there is no cash movement within the system.

The €150 million being provided under this legislation is a small amount in terms of the economic and jobs crisis in this country. The two pillar banks were supposed to lend €3 billion in 2011 and €3.5 billion this year but this has not happened. We own 99% of one of those banks and more than 16% in the other. Where is that money? Is it being loaned to businesses? This is a serious issue. While we are protected in this House from what is happening, the reality on the ground is that there is a crisis in terms of a lack of credit to allow people to continue in business.

Senator Cullinane referred earlier to a company which employs 200 people as a small business. A company which employs 200 people is a substantial business. I would consider a small business to be one which employes up to ten people. Small companies are critical to our economy. A company which employs 200 people in any community is a large business in the scheme of things. This additional 2% charge on business is another prohibition on people. The requirement to pay this 2% annually in advance on the outstanding balance of the loan will pose more cash flow problems for small businesses and should be reviewed. The Small Firms Association has stated that it believes this should be paid in instalments at the same time loan repayments are being made.

The Minister of State, Deputy Perry, is a businessman and he knows as well as I do that the situation is worsening. Something needs to be done to address unemployment levels. There is also a crisis in terms of the number of people not willing to take up employment. It has been suggested that a cap should be placed on the amount payable to people who are long-term unemployed. Business people are totally frustrated by the non-productive sector in this country which is stifling the economy. One half of the working population is killing themselves working 24-7 while the other half is not producing. I do not have to state precisely who these people are. Everyone here knows who they are. If they do not, they should not be here.

Fianna Fáil will be supporting Sinn Féin if it calls a vote on these amendments. I know that the Minister of State understands, perhaps more than do 90% of people in this building, the strains on businesses in the community.