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

I did not interrupt Deputy Creed when he attacked what I believe to be the credit union movement. I wish to point out to members that if they believed that these extortionate rates bordered on criminality then they had the option to do something about it when I drafted legislation on behalf of Sinn Féin, when it was debated in the House and called for a cap to be put on interest rates. A member of the committee has now blamed the credit union movement union but he and other Members decided not to impose a cap on moneylenders and have allowed for the practice of 287.72% APR to continue. If one wants to point fingers then they should start by looking in the mirror and examine the role they play and the power they have, as Members of the Parliament, to do something about the matter.

I shall now turn to the issue of a cap on moneylenders' rates. As I have stated, my party is very clear on the issue.