Oireachtas Joint and Select Committees

Wednesday, 20 February 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Access to Credit Provision: Discussion with Credit Review Office

2:35 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

It is quite startling that only 323 appeals have been made to the Credit Review Office over a three-year period. I can see the value of the Credit Review Office but these types of figures must result in concerns about the operating costs of the office. Mr. Trethowan claims that he has saved a number of jobs and we can deal with that at a later stage. It is not in dispute because there is a value to having the Credit Review Office. However, for a sustainable service, we need to see more traction. Much of the focus has been on the number of people who have gone to the office seeking to make an appeal. However, the statistics about the small and medium business sector and what must be done before that decision to appeal, are just as startling. Of the cases of SMEs refused by both pillar banks, only 784 have decided to appeal within the internal bank system. If only 784 cases have applied for an internal review, the Credit Review Office should be receiving a portion of them. The most number of cases it could have received over the three-year period was 784. That is where the barrier exists. The Credit Review Office can be publicised but if every single case went to appeal to the office, there would only be a doubling of the figures and that is still not acceptable. Can Mr. Trethowan indicate how many SMEs have been refused loans from the banks over the same period which did not seek an appeal at the first stage?

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