Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

Would any other member wish to come in on this, on whether he or she supports the motion? My own view is certainly in favour of supporting the motion. It is very important that there be a banking forum and that it is time-limited in order that it does not sit indefinitely pondering over what should happen. This autumn, Bank of Ireland will close more bank branches. People might say that we can do everything online, but anyone in business will tell you, as indeed will the elderly or those who are not computer literate, that IT is not always an option. Not all business can be transacted or done online. The town of Mountrath in County Laois will be left completely without a bank. The town of Durrow will be left without a bank also. Six bank branches are to close in the constituency of Laois-Offaly. This leaves people with one option with regard to branch networks. It is of huge concern. On the general concept of examining what is happening, the Deputies are correct that the exit of those banks from the sector leave us with absolute dependence on two pillar banks and with little choice.

Also worthwhile in the motion is the proposal to look again at the issue of a public banking sector. From replies I have received to parliamentary questions I am aware that it has been ruled out by the Minister. If one considers countries where public banking systems operate, such as Germany, we see they can operate very successfully. There is no reason it should not operate on this little island of ours. If it is agreed by the committee, perhaps the two Deputies who spoke in support of this motion will be the proposer and seconder.