Mary White (Fianna Fail)

The Minister of State has been here on a number of occasions and he has always pointed out and emphasised the contribution made by small businesses. We know, and he has said it on numerous occasions, that 200,000 small businesses involve over 655,000 people and a significant proportion of the firms employ fewer than ten people. He also said that credit was available and he was circumspect when he said that it was not quite true that people could not access credit. For the first time Mr. John Trethowan, in his seventh quarterly report, was realistic about the availability of credit. He criticised the banks for their lack of, as Senator Cullinane has said, an entrepreneurial spirit and said that they only lend to safe and existing companies.

I agree with the Minister of State that the €150 million should be geared towards smaller companies but it is just not happening. It is the first time that Mr. Trethowan has agreed with all of the business people who said that credit is not flowing freely. At long last he has made that admission. On 1 March Professor Patrick Honohan, the Governor of the Central Bank, said, "Ireland is the most difficult country in the eurozone for small business to access credit." He continued, "Credit conditions for SMEs were tougher in Ireland than anywhere else in the euro area both in terms of cost and availability." The amendment tabled by Senator Cullinane refers to costs. If the Government took 0.8% then it would be superior to the 2% proposal.

I agree with the Minister of State's suggestion that we seek a discussion on Enterprise Ireland next week. He also mentioned Mr. Frank Ryan whom I know for almost 40 years. He is a missionary and unselfishly works for his organisation and country. He does not work for his own aggrandisement. He is an exemplary public servant and the State is lucky to have him. We will arrange that debate shortly.

I agree with the analysis of what is happening in the south east and it has been happening for a long time. It is appalling that the last Government did not support the Waterford Glass company. As far as I can remember, the firm needed €3.5 million to keep it going but the then Government did not support it. I was also amazed that the Waterford Institute of Technology was not converted into a sophisticated technological university either. I criticise the previous Government for that too. The problems in the south-east region must be addressed and the Government must play its role. We failed to convert the Waterford Institute of Technology into a serious technological centre. Dr. Ed Walsh founded the University of Limerick which allowed the south-west region to come alive and become dynamic. The problems in the south east must be addressed.