Enterprise minister seeks approval for farm and small business loan scheme 

Enterprise minister Peter Burke will seek approval from Cabinet for the €500m loan scheme, which is due to be rolled out for both SMEs and farm enterprises. File picture: Stephen Collins/Collins

Small businesses and farm enterprises will be able to access up to €3m in low cost loan finance, with the Government due to approve a new scheme on Wednesday.

Enterprise minister Peter Burke will seek approval from Cabinet for the €500m loan scheme, which is due to be rolled out for both SMEs and farm enterprises.

Loans will be available between €25,000 and €3m, with no security required for loans up to €500,000. This security will instead be provided by the Government.

The loans are due to be administered by the pillar banks, with funds also having been secured from the European Investment Bank.

The scheme has been progressed by Mr Burke and agriculture minister Martin Heydon over recent months.

Meanwhile, environment minister Darragh O’Brien will update ministers on the National Energy Affordability Taskforce, which is preparing an action plan due in the second half of the year.

The update from Mr O’Brien will focus on the taskforce’s response to the ongoing war in Iran and the subsequent impact on energy prices.

It is expected the action plan will outline short, medium and long-term measures to assist families and businesses deal with energy costs.

There will be four strands to the plan, including addressing the price of energy, addressing energy poverty, assisting affordability for businesses, and sustainable demand.

Valerie's Law

Separately, justice minister Jim O’Callaghan will seek Cabinet approval for new laws which would see killers stripped of guardianship rights to their children if they are convicted of murdering a partner or the parent of a child.

The law will be named ‘Valerie’s Law’ to honour Valerie French, who was murdered by her husband James Kilroy in 2019.

Tusla, the Child and Family Agency, must apply to the District Court within six months of the conviction in order for them to be stripped of their rights.

An order can either restrict the convicted person’s powers and duties, or remove them as a guardian.

It will take effect once an alternative arrangement is in place, such as a care order or the child having another guardian.

The laws will also apply retrospectively to cases which occurred prior to the law’s enactment.

Meanwhile, culture minister Patrick O’Donovan will seek approval for a new €6m Arts Capital Scheme, which will be used to upgrade arts and cultural facilities across the country.

The scheme is expected to provide up to €200,000 for capital works and €15,000 for community groups.

It is due to be run on a pilot basis, with funding eligible to be used to upgrade equipment or used for accessibility and climate upgrades.

• Tadgh McNally is a Political Reporter.