John Lyons (Dublin North West, Labour) | Oireachtas source

I wish to comment on the point made about the strategic investment bank and my issue with it is based on a couple of aspects. We have discussed access to finance with other witnesses and there are banks that have not been lending to the extent that we would have liked them to do so. Now a fund has been given directly to these high street banks to lend more money but they have not been lending at the levels that we wanted them to reach in the first place.

Given what Mr. Shanahan has said in his report, pillar banks need to have a deeper understanding of the new innovative sectors in order for businesses to be sure of success and have loans granted. The chief executive probably cannot give me the answer to the following questions. Is it not a mistake to allow high street banks to access and deliver the fund considering they will not give out some of the money? That is our opinion, which is supported by what we have heard from other witnesses. Will that be the scheme's downfall? Will people have to admit in a few months' time that this was a mistake? Is it not a mistake to give more money to banks that are not doing what we asked them to do already and to the extent that we would like?