John Perry (Sligo-North Leitrim, Fine Gael)

On Senator Burke's last point, we have 13,000 sq. ft. of retail space per head of population compared to 1,000 sq. ft. per head of population in the UK. That certainly shows the scale of retail over-capacity in the State.

With regard to Senator Cullinane's point about the south east, I have visited the area on several occasions. I met the new Enterprise Ireland official there and I visited the Waterford college as well. There is a major plan of action by the Government, and the Senators and Deputies in the region will be conscious of the focus of Enterprise Ireland and the IDA on getting investment there.

This fund is not to substitute bank lending. The State has recapitalised the banks and they have €7 billion available for viable companies, although there is also the issue of the definition of "viable". I have toured the country with John Moran, Secretary General of the Department of Finance, and we met many representative bodies and business people and heard about the difficulties. We had an in camera meeting about the pressure on people when accessing money from the banks. Clearly, it is about having a business plan, sitting down with the bank personnel and simplifying the process. Many people ring up looking for money but do not make the application. There is a new simplified application. I am not saying the banks are dishing money out but it is about engaging with them with the application and going through it in detail. There is a simplified application in all three banks. All have the same application.

The county enterprise boards are very effective but, as Senator Clune pointed out, there is a new configuration of services through the local enterprise offices, along with mentoring and supports. It has been very effective in other jurisdictions. There is a determination to work with the lender. It should be remembered that the banks are domestic banks and they are there to make money. They need SMEs and the SMEs need a bank. The banks need business people to make money to ensure their long-term viability.