Under this Administration, thousands of businesses are going bust every year, in many cases as a result of the suffocating demands associated with the Government's policy of austerity. The Government has promised to introduce a credit guarantee scheme. What is necessary at this stage to put such a scheme in place? When will that be done?

It is important to note that 17,000 new jobs have been created in the private sector. I see evidence every week of growing signs of confidence in the private sector.

Some 33,000 jobs have been lost.

Of course unemployment is much too high. It is a welcome trend to see the private sector increasing its workforce by 17,000. At a recent IBEC conference, the signs were that there will be a strong reaction from 600 businesses. The Government has set out its action plan for jobs. I expect that the commencement of the partial loan credit guarantee scheme and the micro-finance agency, along with other issues that are going into operation this month, will have an impact here. It is clear that access to credit from banks continues to be an issue.

Will the scheme be in place by the end of this month?