Seán Kyne (Galway West, Fine Gael) | Oireachtas source

Tá áthas orm cupla focal a rá maidir leis an mBille seo. Gabhaim comhghairdeas leis an Teachta Penrose agus chuile dhuine a bhí páirteach sa phróiseas seo, go mór mór baill an Chomhchoiste um Dhlí agus Ceart, Cosaint agus Comhionannas.

I welcome the Bill and commend Deputy Willie Penrose and all those involved, in particular the justice committee. Some 80% of the 135,000 jobs created by entrepreneurs were created in small Irish SMEs. Fostering entrepreneurship is a very important part of job creation, as is acknowledging failure. People can sometimes make mistakes and things do not always work out. My old accountancy teacher used to say we should never be ashamed to fail in business. A punitive bankruptcy regime does not foster job creation. The Bill provides sanctions for those who evade their responsibilities and do not co-operate in the bankruptcy or conceal income or assets from creditors. It is important that it not be an easy process and that it be monitored. Entrepreneurs will be encouraged to develop new and existing businesses and the Bill may also help in dealing with the psychological issues and stress caused by the process of indebtedness. We have all come across this in our constituencies in dealing with the problems faced by homeowners.

The legislation is certainly very welcome. I commend all those involved, including the Government, for bringing it to this stage. In particular, I acknowledge Deputy Willie Penrose for the work he has done on it. I commend it to the House and wish it success.

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