Gerald Nash (Louth, Labour) | Oireachtas source

Indeed. I can whistle for that.

I remind Deputy Finian McGrath that the Microfinance Ireland operation is in place. The performance of that body is improving all the time. It presents a significant opportunity for small and medium enterprises at a micro level to gain access to finance at reasonable rates when they need it, where they need it and in a timely fashion. We have made some substantial changes to the Microfinance Ireland scheme to allow for greater access to microfinance and to allow the system to be more responsible and flexible in meeting the needs of micro-enterprises.

There is an established need for this legislative change. We all accept that. It is in line with best international practise, as identified by the OECD. Our SMEs need this approach. We are improving this and the system will work very favourably in the interest of the SME sector. It will compare very favourably with similar schemes in operation for some time in comparable states across the European Union. I commend the Bill and the proposed Committee Stage amendments to the House.

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