Enda Kenny (Mayo, Fine Gael) | Oireachtas source

There are conditions governing acceptance under the JobBridge scheme. It has been a very successful scheme. Over 55% of the almost 10,000 people who have participated in JobBridge have been taken on permanently. The employers I have met have been absolutely delighted with the quality of the talent pool available in respect of young workers employed by the various companies concerned. I do not have the details about Oxigen, the company mentioned by the Deputy. I suggest that he submit the matter as a topical issue. If he feels good about it, the Ceann Comhairle might consider it benignly given that the Deputy comes from the same constituency as himself.

Clearly, the trades unions have made their decision. I have always said they should have the space and opportunity to make their considered decision. Equally, the Government will consider the outcome and nature of the ballot, as well as the fact that the Government is still required to make savings of €300 million this year. The opportunities here are limited but the Government will obviously reflect carefully on how to achieve that level of savings for 2013 and savings of €1 billion by the end of 2015.

Credit availability is an issue on which I receive different reports from around the country. Some Deputies tell me there has been a change on the part of the banks recently and that the level of rejection or non-availability of access to credit is not as strong as it was. I welcome that. Bank of Ireland has published the fact that it made €1 billion available in the first quarter of 2013. The Department of Finance met with the pillar banks to discuss the results for the fourth quarter of 2012 and lending plans for 2013. The pillar banks achieved their target of providing €3.5 billion in 2012 and are on target to achieve the target of €4 billion set for each of them for 2013.

However, there are other things to consider. There is the bank finance scheme, with the 75% State guarantee under the credit guarantee scheme. That was established to provide up to €150 million in additional lending to SMEs over three years. That scheme went live on 24 October last and at the close of business on 5 April last there were 25 live credit guarantee scheme facilities, resulting in over €3.1 million having been approved through the scheme. It is expected that this will lead to almost 200 jobs being created and 25 jobs being maintained. It is a small issue but an important one, in the sense that this is how one will build one's local economy. The SME Equity Fund and the SME Turnaround Fund have established offices in Dublin and they are now active in the market sourcing transactions. The European Investment Bank, EIB, sub-group met on 22 March last and the EIB management committee is due to visit Ireland at the end of April with a view to assessing opportunities for serious investment in certain infrastructure. Enterprise Ireland and the National Pensions Reserve Fund have made up to €250 million available for investment in international venture capital funds that establish a presence in Ireland with a view to investing in Irish start-up and scaling companies.

The Government is looking at how to stimulate an element of activity in the construction sector here, which would spread throughout the economy when it is started. Clearly, what happened in the crash when 160,000 construction workers were made unemployed is central to what we must do here. It involves a range of measures, such as the development capital scheme, the Innovation Fund Ireland, the microenterprise loan fund or the partial loan credit guarantee scheme, where access to credit is made available for creative small enterprises. We should not be afraid to get back into manufacturing. This is an area where I see a new interest.

However, we are following through on the 17 specific actions mentioned at the special Cabinet meeting on jobs. That is where our focus will be in the forthcoming period, because that is the challenge for everybody here.

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