John Perry (Sligo-North Leitrim, Fine Gael)

The cost will be offset by the benefits to the State. The final cost has not been fully determined, but it will certainly be value for money because the most important benefit is getting people back to work. From the level of inquiries to my Department about the lack of funding to small companies, I entirely agree with the Deputy on the role of the banks, which is a huge issue at the moment. I assure the Deputy that I will rigorously bench-mark the two pillar banks to ensure that money is loaned out.

With regard to the efficacy of the €400 million fund, it could potentially create 8,500 jobs. It is absolutely essential that we deliver it instantly. I agree that, unfortunately, small companies are not currently getting the essential finance required to generate confidence and credit in the economy. It is a point I will deal with.

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