Brian Stanley (Laois-Offaly, Sinn Fein)
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Question 42: To ask the Minister for Jobs, Enterprise and Innovation the steps he is taking to provide support for those in the banking sector who have been made or are in the process of being made unemployed. [27329/12]

Richard Bruton (Dublin North Central, Fine Gael)
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It is an inevitable, but unfortunate, consequence that as a result of the reorganisation of the banking sector, redundancies will arise in that sector. Essentially, our banks need to adjust their operations downwards in order to service the present real economy.

The Deputy will be aware that my colleague, the Minister for Finance, has primary responsibility for the banking sector and has taken the lead in terms of the Government's approach to the announcement of major redundancy programmes in the banking sector. The Departments of Education and Skills and Social Protection also have important roles to play, in addition to my own Department.

In terms of my Department's role, the Labour Relations Commission was actively involved with the parties in a number of the covered institutions, facilitating agreement between them as to the detail and terms of the very significant redundancy programmes in those financial institutions. The achievement of agreement on such matters contributes to a positive transition in these very difficult circumstances for those employees who volunteer to leave those organisations. The services of the State's Industrial Relations bodies remain available to the banking sector as required.

In addition, the services of the Enterprise Development Agencies - Enterprise Ireland and the County Enterprise Boards will also be readily available to those who may be interested in starting new businesses and to help them to make informed decisions as they consider their options for the future. Additionally, IDA Ireland will keep a particular focus on marketing the skills which are coming on stream as a result of redundancies in the financial sector, to potential investors in Ireland.