Enda Kenny (Mayo, Fine Gael)

It is six weeks since the guarantee given by the Government and approved by the House and 10,000 jobs are being lost around the country per month, the vast majority in the private sector. The small business sector, which comprises businesses that employ low numbers — three, five, ten or 20 — is in crisis because it is unable to get credit. Banks have called in overdrafts, credit lines have been tightened and machinery is being seized. Business cannot operate in such circumstances and many people believe that they cannot go on.

Unless the Government acts to allow credit lines to flow through the financial systems and business to be conducted, the sector is facing a jobs decimation over the next six months. I am not the only person discussing the protection of thousands of jobs in small businesses. The Small Firms Association has rightly pointed out that, unless the Government acts, there will shortly be a jobs implosion. What are the Government's proposals to recapitalise the banking system so that thousands of jobs can be protected in the near future?

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