Marc MacSharry (Fianna Fail)

In my view that would be wrong. The Minister of State's background is in small business and he fully appreciates my point of view. Let us get more information on how the scheme will be underwritten, who the underwriters will be and what assurances will be there. We must ensure that we are not just guaranteeing the banks to lend to more blue-chip companies, rather than capturing the spirit of what the Minister of State is trying to achieve, namely, to support risk-takers in creating more employment and getting credit flowing.

I do not feel a 2% levy is necessary. It should certainly be linked to a company's profitability as opposed to an annual 2% charge to be levied on them, which is wrong. It is a bit like the banks having split mortgages but charging more money for the warehouse section, as we read in today's newspapers, on the personal finance side of things.

When is the micro-finance loan scheme going to begin and how will it work? I agree with what Senator Healy Eames asked about whether companies can avail of both if necessary.