Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I welcome the review of the scheme and commend the officials involved and the Minister of State, in particular, for the energy he brings to dealing with the issue. The legislation is a snapshot of much of the Government's spin and waffle on job creation and support for SMEs. The scheme was launched in 2012 by the Taoiseach, the then Tánaiste, about whom I had forgotten, and the Minister, Deputy Richard Bruton. It was indicated that there would be lending of €100 million, but it has struggled consistently to do this. As I have stated previously, our ability to respond as a Parliament when something is not working must be enhanced. That is a cross-party issue. The scheme could have done much more had it been changed quickly, although I know that is not the fault of the Department. We must look at staffing in the Office of the Attorney General with respect to the availability of legislative legal skills in order that the process can be much quicker. The scheme should have had such a role to play, particularly in the refinancing of debts for exiting financial institutions. Unfortunately, I fear that opportunity may have been lost. We called a vote earlier to emphasise that a commitment had been made in the programme for Government to set up a separate State enterprise bank rather than a wholesaler of EU funding to be provided for existing State banks. Between the pillar banks, when it comes to servicing business, there is a cosy consensus which leads to a lack of services for business. That consensus must be challenged and broken. There should be a separate Strategic Banking Corporation of Ireland with the ability to get out on the street.

I say, "Well done," to the Minister of State and his officials, but we must ensure the next Dáil will be empowered in order that changes may be made and our legislative response to bad or weak legislation will be quicker than it has been on this occasion.

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