Peadar Tóibín (Meath West, Aontú) | Oireachtas source

Mr. O'Connell mentioned the New Zealand system. Kiwibank, which is a public bank accessed through post offices, resulted in a great increase in competition within New Zealand's banking system. Its introduction had a very health effect on the functioning of New Zealand's banking system while also making its post offices profitable and functional, allowing more to stay open. The banking system and market in this State is in the realm of the dysfunctional, which is having a very significant effect on rural and regional Ireland, on small and medium-sized businesses and on people who are outside of the digital marketplace. The decisions the banks are making and getting away with are being made because of a lack of competition. I do not see any Government policy pointing towards increased competition, which means there will be no solution or end to this, which is unfortunate. I thank all of the witnesses for the work they are doing. It is appreciated tremendously.