Cowen criticised for delay in loan guarantee scheme

Cowen criticised for delay in loan guarantee scheme

Taoiseach Brian Cowen has come under fire in the Dáil today for delays in introducing a loan guarantee scheme for small businesses.

Fine Gael Leader Enda Kenny sais that the delay is resulting in difficulties for thousands of small firms.

“There’s a great degree of messing going on here between Finance and Enterprise, and this scheme has not seen the light of day,” said Mr Kenny.

“Thousands of small Irish businesses are hanging on by their fingernails.”

Mr Cowen responded: “The working capital needs of small businesses are best protected and best provided for once the full recapitalisation of the banking system is in place, and that is at an advanced stage.”


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