Seanad debates
Tuesday, 30 November 2010
National Recovery Plan 2011-2014: Motion
Although it is not intended, as I have said previously, I would like €2 billion of the IMF funding to be made available to the small and medium-sized enterprise sector by way of the State taking equity in those companies. That could be done quite quickly, perhaps by using Enterprise Ireland. Someone good at auditing and someone good in the legal end of things could assess what applications should be successful. Some €2 billion would give a significant and much needed stimulus to that sector. This could complement IDA Ireland, Enterprise Ireland and all the other positive things happening. That is as far as I would go in terms of the Labour Party's motion and the bank it proposes to establish. The State taking equity in the small and medium-sized enterprise sector would be innovative, get money into the sector and create jobs in the sector very quickly.
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