Commercial rates valuation review
Tom Fleming sought faster, nationwide progress on reviewing commercial valuations affecting small businesses, including use of an independent body. The Taoiseach highlighted job creation and State supports for SMEs while acknowledging the need for improved infrastructure and regional assistance.
I welcome the recent Government awareness campaign for small business supports, although it is somewhat belated. Following the budget announcement last October, the Minister for Finance, Deputy Noonan, acknowledged that small businesses are the lifeblood of the economy. We must be mindful that 98% of Irish firms are small to medium enterprises, SMEs, and 69% of private sector employees work for an SME. Growth in employment will therefore depend on growth in smaller businesses. Job creation figures from last year indicate that small and medium-sized businesses created almost four times more jobs than the foreign direct investment sector, for example.
Dublin and some of the larger cities and urban areas are experiencing good growth but there is a two-speed recovery. Many of our rural towns and villages are being left far behind and the effects of any recovery are still to be felt. The inner parts of towns are becoming denuded of people because of the growth of large multiples on the outskirts of the towns which attract a large volume of business. Local government may see parking charges as a cash cow in such cases, so that issue must be addressed in the immediate future. The review of valuations has so far been confined to Dublin, Waterford and Limerick, with 48,000 businesses being checked in that process. All these valuations were carried out in a boom, for example, and businesses may have declined dramatically. There is a need to reduce valuations in such cases.
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I ask that the process be rolled out across the country. There is no way the Valuation Office could have the resources or people to make this review with immediate effect, so I ask that an independent body be involved so as to accelerate the process. There is uncertainty in many businesses as to what direction they should take. I ask the Taoiseach to examine immediately these issues.
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The Central Statistics Office published its latest statistics this morning. The report indicates that the Government and agencies of the Government have created 90,000 jobs since the beginning of 2012, when the Action Plan for Jobs was published. That is very important and great news for people who have been able to take up these new jobs. It means the Government is very much on track to beat the target of 100,000 new jobs by 2016. That means unemployment has fallen from 15.2% to 10.3%. As the Deputy knows, every decimal is worth approximately €90 million in savings for the people. We are moving very much in the right direction.
I am encouraged by and support the extent of growth in jobs created at home. The Deputy nevertheless makes an important point about the perception of a two-speed recovery. The cities of Dublin, Galway, Cork, Limerick and, to a lesser extent, Waterford seem to be attracting far more of the jobs than other locations. That is why local enterprise offices were set up in every local authority to provide information, access to assistance and an indication of what is available on a one-stop-shop basis.
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There are revamped Enterprise Ireland assistance schemes for small and medium enterprises and they are doing a fabulous job in helping people take the next step, recruit and export. IDA Ireland will launch its regional strategy for developing opportunities outside the main cities, and I am sure everybody welcomes the very substantial investment to be made by Apple in Athenry. That demonstrates the attractiveness of Ireland having economic and political stability for that kind of investment.
I take the Deputy's point. We need to improve broadband, communications, power and facilities for pristine water but they are all part of the strategy we must develop. Deputy Fleming's point is valid but the Government is working very hard on this with IDA Ireland, Enterprise Ireland and local enterprise officers. With regard to access to credit, the other day I launched with the Tánaiste and the Minister for Finance the Strategic Banking Corporation of Ireland, which will make available up to €800 million for new investment at lower interest rates and over a longer term. That is specifically for small businesses and elements are included for young farmers to avail of low-interest loans for purchasing agricultural machinery. The rural development programme will be approved shortly, with €4 billion in funding between now and 2020.
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The Government hijacked the Leader programme.
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Deputy Mattie McGrath should get back in his box.
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The Government is closing post offices like it closed Garda stations.
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Deputy Mattie McGrath hates good news.
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He is wrong about the post offices too.