Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

Gabhaim buíochas leis an gCathaoirleach agus gabhaim buíochas le Mr. Fielding as an gcur i láthair a chuir sé os ár gcomhair. I thank Mr. Fielding for all his work in this area. In recent years there have been quite divergent messages from various groups regarding the experience on the ground among SMEs as they try to access credit. As elected representatives, we hear a message very similar to that heard by the witness, but obviously a large array of organisations are trying to give us a far different message. Access to credit and loans is an important issue at this juncture. What is the witness's experience of debt distress among his members? How much of a dampening effect is it having on the economy in general? What is the personal experience of those people who experience that debt distress? The representatives of some of the banks that appeared before the committee said they were trying to nurse some of those in debt distress back to health by separating out their toxic loans from their functioning businesses. What is the experience of the witness in that area?

I commend the Government on its efforts to create other strands of credit. In the main, these have not been functioning successfully. Mr. Fielding mentioned the Credit Review Office and its dodgy start and the fact that the numbers seeking credit through the microfinance credit guarantee are low. Why are these not being used? He also referred to the red tape around seed capital. Perhaps he would say a little more about that issue. Is the cost of credit having an effect on his membership? Perhaps I can pose a few other questions later.