Brian Cowen (Laois-Offaly, Fianna Fail)

Legislation is not required. It is a commercial arrangement with a facility being provided by the banks concerned to the industry and the public generally in respect of assisting in the accessing of finance for important work such as energy efficiency and so on, which can make business more competitive, maintain jobs and contain and cut costs. The fund does not require a statutory basis. The commitment has been made, similar to other commitments in respect of home owners and small businesses, etc., and it will be a matter for the Minister for Finance to monitor and confirm that it is put in place as quickly as possible.

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