Seanad debates
Monday, 24 May 2021
Loan Guarantee Schemes Agreements (Strategic Banking Corporation of Ireland) Bill 2021: Committee and Remaining Stages
10:30 am
Paddy Burke (Fine Gael) | Oireachtas source
Like previous speakers, I would prefer if we had much more time to go into much more detail on the Bill but the main focus is to get it enacted in order that businesses can access much-needed finance. In many cases, businesses are dying because they cannot get access to funds, and it is critical that they get that finance. We had a good debate on Second Stage of the Bill.
In regard to Senator Higgins's amendment, which seeks to include social and environmental criteria, I had presumed from listening to the Second Stage debate that the Bill was sufficiently broad such that these types of issues would be included in any event. I thought there would be no need to include a provision specifically for social and environmental criteria because they would be covered in the broad thrust of the Bill. I hope the Minister of State will outline that to us.
There is no doubt about the way farming has gone and many types of business are moving in that direction. They want to do their best under the new environmental regulations and so on and to be environmentally friendly. I had hoped that would be included in any event in the broad sense of the Bill, and that the types of project that Senator Higgins has in mind, which she did not specify but we all know what they would be in some cases, would be included and the financial institutions would treat them favourably. One would have thought that if they did not do so, there would be a place where businesses could appeal their application. I hope the Minister of State will confirm that to us.
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