Finian McGrath (Dublin North Central, Independent)
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To ask the Minister for Jobs, Enterprise and Innovation if he will support increased credit available to small and medium enterprise and financing facilities to support expansion and improve cash flow as well as no added costs relating to taking on staff as a major job creation strategy. [1495/13]

Richard Bruton (Dublin North Central, Fine Gael)
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I am well aware of the importance of credit availability for small and medium enterprises and financing facilities to support expansion and improve cash flow as well as the importance of not adding costs in relation to taking on staff.

Improving access to credit is of course a priority which the Government is addressing in a comprehensive and co-ordinated manner. The initiatives taken by the Government to restructure and re-capitalise the banking system are the principal response to making credit available, as banks will continue to be the primary and dominant supplier of finance for SMEs.

I have taken action to address some specific market failures which will add value to the actions that Minister Noonan has taken. I recently introduced two targeted schemes to support an additional flow of credit into the economy, namely the Microenterprise Loan Fund and the Credit Guarantee Scheme. These new Schemes form key components in the suite of initiatives aimed at ensuring the flow of credit to SMEs to sustain employment and create new jobs.

In addition to these initiatives, the Innovation Fund Ireland (IFI) and Development Capital Schemes are helping Irish companies access credit in the current difficult environment.

As part of the Action Plan for Jobs, a range of financial and non-financial supports currently available from Government Departments, Offices and Agencies were identified and formed the basis for the compilation of a new webpage and circulation leaflet. This information was widely distributed to key stakeholders, including employers and their representative organisations. This includes such schemes as: Revenue Job Assist, the Employers' Job PRSI Incentive Scheme, the Back to Work Enterprise Allowance and the Job Expansion Fund. These supports provide incentives and tax relief to employers for job creation across a variety of sectors. Updates on these, and all other commitments in the Action Plan for Jobs, are detailed in the Quarterly Progress Reports on the Plan which are available on my Department’s website, . Maintaining cost competitiveness, particularly in relation to staff costs will be a key element in maintaining economic competitiveness for the foreseeable future. The Action Plan for Jobs 2013, which will be published shortly, will continue to address this key issue.