Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

Liaising with banks in respect of their lending to small to medium-sized enterprises, SMEs, has been a continuous process involving myself, colleague Ministers and officials. Most recently I met the CEO of one of the pillar banks in June.

The Cabinet committee on mortgage arrears and credit availability meets monthly and reviews access to finance for SMEs, including bank lending to SMEs. The credit consultation committee established under the terms of the Action Plan for Jobs has met seven times since its inception to discuss with the banks and other interested parties the availability of credit to SMEs.

In developing the Action Plan for Jobs, I have sought the broadest possible involvement through submissions and regional meetings. I have included banks in this process. I have had direct meetings with senior bank executives at national level. The Minister of State, Deputy Perry, has also undertaken a specific regional round of seven meetings on access to finance.

As the Deputy knows, arising from this work I have developed the micro-finance initiative, the loan guarantee scheme and the development capital fund. My Department is in regular contact with the pillar banks to discuss the availability of credit to the SME sector and to discuss the performance of the SME credit guarantee scheme and the micro-enterprise loan fund, which the Minister of State has outlined to the House. My officials and I also work closely with the Credit Review Office, CRO, to track lending and credit refusals in order to safeguard businesses and jobs.

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