Oireachtas Joint and Select Committees

Wednesday, 5 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Bank of Ireland

4:25 pm

Photo of Pat RabbittePat Rabbitte (Dublin South West, Labour) | Oireachtas source

On the construction sector and the supply side problem in the marketplace, some of the builders left standing have come to us with stories to the effect that they could make a significant contribution to dealing with the supply deficit if the bank would carry them for the 12 to 18 months needed to clear a site, deal with planning, get the design work and all of the other things that need to be done completed, but, again, the banks generally have not been forthcoming, whether it is related to the stress tests or another reason, and that work on sites that might have been developed in the past 12 months or in the immediate future are not being facilitated because the banks will not carry them.

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