Richard Bruton (Dublin North Central, Fine Gael)

Job creation is central to our economic recovery and the programme for Government has job creation at its core. The role of my Department is to ensure we have the right policies in place that will support and increase our enterprise base in order to facilitate both job creation and job retention. It is only by creating the right environment for businesses to expand that we will see new jobs coming on stream.

We must champion the cause of companies that can create good jobs in sustainable activities. To this end, the Government has committed to the creation of a jobs fund within its first 100 days. This fund will facilitate the implementation of a number of measures across a range of Departments, including sectoral initiatives in areas that will create employment in the domestic economy and a long-term strategy to develop new markets in emerging economies. I have already started working with the enterprise agencies under my Department's remit to develop a jobs programme that will develop these various initiatives.

We will take action on a number of fronts such as access to finance; getting our cost base right; providing supports to help build businesses that are well run and innovative; helping companies win new markets; and reducing red tape and tackling barriers to entry. Under those headings there are specific initiatives which I can mention.

My Department is working with the Department of Finance, the Credit Review Office, Enterprise Ireland and Forfás to address the credit issues for viable SMEs, including the commitment in the programme for Government for the introduction of a temporary, partial credit guarantee scheme. The programme for Government also includes a commitment to construct a €100 million microfinance start-up fund that will provide start-up loans and equity, and will draw funding from the National Pensions Reserve Fund. These are very important supplement to the real pressure on banks in providing credit to business.

Getting our cost base right is obviously very important. As I mentioned in reply to the earlier question, we have a commitment to reduce employers PRSI and also to reduce the cost base in areas such as rents and energy costs.

On businesses that can become more innovative, as the Deputy will be aware the programme includes the assessment of new incentives for research and development to help small companies to participate. One of those proposals is that companies spending more than €100,000 would have access to credit without the additionality requirement. Firms that are innovative will drive efficiencies and employment growth.

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