Yesterday, Mr. Brian Purcell, the new president of the Institute of Certified Public Accountants, spoke passionately about the unfair tax treatment of Irish entrepreneurs and said that they would be better off starting up businesses in the UK, Northern Ireland or the US. He called for significant amendments to the tax system to improve the incentives for Irish entrepreneurs to take the risks necessary to set up and grow businesses. He claimed that many Irish budding entrepreneurs were already voting with their feet. We praised the Minister for Jobs, Enterprise and Innovation last night for the reduction in unemployment. However, according to EUROSTAT, 21.5% of young people are still unemployed.

This is very serious. It is a serious matter for a country and I would like to draw attention to it. Last night, the Minister did not really understand the point I was trying to make. I said that indigenous small and medium-sized Irish companies need to have parity with multinationals. At present, the multinationals only want to be in the large urban areas where there is major infrastructure, etc. Small and medium-sized indigenous industries can start anywhere in Ireland.

The Minister for Finance talks about this great country and how it is going to be a great country in which to do business. Mr. Purcell pointed out that despite commitments from the Minister for Finance and the Taoiseach to introduce tax parity, self-employed people in Ireland continue to be discriminated against in terms of PRSI and USC rates and tax credits. The impact of this is at the lower end of the earning scale where the self-employed taxpayer pays 4.4 times as much tax as an employee on the same income.

Is the Senator looking for a debate on this matter?

It is a far cry from the claim about the best small country in the world in which to do business.

There is another point relating to women entrepreneurs. We are trying to encourage as many women as possible in this regard. If we got as many women to start up businesses every month as the number of men, we would have 500 extra jobs per month. Women entrepreneurs are discriminated against. A woman entrepreneur must have 52 weeks of PRSI contributions paid in the relevant year as opposed to a minimum of 39 weeks for an employee. As a result, it is far more difficult for women who work for themselves to meet the criteria, as set out, for maternity benefit. Additionally, self-employed women entrepreneurs must apply for maternity benefit 12 weeks before the intended start date while employees only have to give six weeks' notice.

Is the Senator looking for a debate on the issue?

I am talking seriously about the need for parity.

The Senator is way over time.

I know. We have to get parity for indigenous Irish companies and Irish entrepreneurs in respect of multinationals.