Brian Lenihan Jnr (Dublin West, Fianna Fail)

I am far from complacent on this subject. I referred in my response to the numerous meetings I have had with the financial institutions. At my request and insistence, the various financial institutions have submitted different plans for assisting small and medium-sized enterprises. I do not accept for one moment that my attitude is complacent. I am very concerned about this matter.

The implicit assumption in the remainder of Deputy Bruton's contribution was that the capitalisation of the banking sector, whether by the State or otherwise, would automatically lead to an increase in lending in the real economy. That has not been the experience in the United Kingdom, where an extensive state-sponsored process of capitalisation has taken place. I assure Deputy Bruton that there is no delay in the ongoing discussions with the financial sector about the reflections I invited the banks to make on their own capital positions.

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