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BP SURVEY<br />
Accountants<br />
Gerry McInerney<br />
McInerney Saunders<br />
Liquidity and credit conditions have<br />
deteriorated in comparison to this time<br />
last year, primarily due to all of the<br />
banks seeking to deleverage at an<br />
increasing pace. It’s as if they are<br />
attempting to achieve a reduction in<br />
their loan books before it becomes<br />
impossible for them to do it in an even<br />
more depressed environment.<br />
I don’t think any right-minded person<br />
believes that the government is not<br />
already acting in the best interests of the<br />
economy. We might deplore certain<br />
aspects of the public sector cost structure<br />
and the inefficiencies and work practices<br />
that bear no relationship to how the<br />
private sector operates. Unfortunately, it<br />
seems that the government cannot<br />
change these things overnight. But there<br />
needs to be strong leadership that comes<br />
out and drives the public debate that<br />
Gerry McInerney,<br />
McInerney Saunders<br />
brings about cultural change. This<br />
process in itself will foster confidence<br />
both nationally and internationally.<br />
If opposition parties are to have any<br />
credibility, they need to seriously enter<br />
this debate, not as an opposition to<br />
government but as an opposition to<br />
inaction around such change. Today,<br />
everyone is looking for value; a fair<br />
return for a fair wage. Let’s have<br />
benchmarking.<br />
Brian Conroy<br />
Horwath Bastow Charleton<br />
In talking to our clients, most businesses<br />
appear to have reached the bottom and<br />
are showing more signs of optimism for<br />
2012 and beyond. <strong>Business</strong> that are<br />
heavily exposed to domestic consumer<br />
spending, such as retailers and hotels,<br />
are the most vulnerable because of the<br />
poor consumer confidence and the<br />
impact of fiscal corrections. However,<br />
even in these sectors we are seeing early<br />
indicators that the worst is behind us.<br />
We are encouraged by the government’s<br />
support of business investment by SMEs<br />
through measures such as R&D grants,<br />
film relief, the Employment and<br />
continued on page 66<br />
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