John Perry (Sligo-North Leitrim, Fine Gael)

The detail in that regard is not yet clear. However, I believe a business's needs would be satisfied by one loan. The domestic banks rely on successful businesses. Senator Keane's concerns will be addressed on Committee Stage. Business is about confidence. The Government has enormous understanding, concern and respect for the 200,000 companies in the Irish economy that employ up to 655,000 people. There has been much detailed work on this scheme. My officials worked tirelessly on this Bill. Getting it this far has been a torturous task. The pillar banks have a particular role to play in this area. With regard to Senator Quinn's point, alternative funding mechanisms such as crowd financing exist and these can be effective. This is just one suite of measures we can potentially implement. I have noted a range of comments from all sides of the House and I listened very actively. I will consider them in advance of Committee Stage. Some of the points were raised previously with regard to the charge, review and scheme. We will take on board the points which were well made today.

The Bill will help to restore confidence, which is an integral part of economic health. It will also form an essential part of our recovery. Business must develop sufficient confidence in the future to begin expanding order books and payrolls. This is about creating jobs and the role of small enterprise. The best examples in other European countries show it has been successfully operated. In this country First-Step is a good example. Recently, I attended an event also attended by companies which had been refused credit. Instead they were funded by First-Step and have been very successful since. Banks must again be willing and able to lend sufficiently to meet the needs of business. Consumers must regain the confidence to spend again. People must buy to support small companies which are the backbone of the economy and the engine of growth. Our overall strategy is aimed at ensuring our citizens and businesses feel confident we have their interests at heart and that we are implementing necessary change. The Government is concerned about, respects and will give service to small companies because we believe they are the engine of growth.

Senator Keane made a point about women in business and we are very much taking this issue on board. We have attended a number of events which recognise this with regard to the BRIC and European networks. Behind most successful businesses is a great lady and I subscribe to this view.