The Dáil has passed its first piece of legislation outside of Leinster House since the foundation of the State.

At the Convention Centre in Dublin, the Microenterprise Loan Fund Bill passed all stages in the Dáil and will now go to the Seanad.

The legislation increases the amount of money that can be loaned to businesses.

Minister of State Damien English said it was appropriate this legislation that is aimed at helping small enterprises was the first item passed by the 33rd Dáil.

However, his Government colleague, John McGuinness stated strongly that it did not go far enough.

The Fianna Fáil TD said that many businesses are on their knees and they require support in the form of grants and loans with a 0% interest rate.

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