Pearse Doherty (Donegal, Sinn Fein)

-----can I make three broad points about the Bill as I am about to leave? I have tabled amendments but I intend to withdraw them and perhaps may resubmit them on Report Stage.

First, four years have elapsed since the Government granted approval for the credit review office to be put on a statutory footing, which shows the slowness of change in government. I think it was on 6 July 2021 that the Cabinet approved the credit review office to be put on a statutory footing, which I support.

Second, what the review office deals with came from the NAMA legislation and a large portion of SMEs do not go to banks any more. More than 30% of SMEs get lending from non-bank lenders. Therefore, the credit review office in this legislation has to look at that aspect also.

Third, and this next issue concerns one of the amendments that I will withdraw, there is a large contraction in relation to credit being available to SMEs. I have individual cases that I will not put on the record but I know of people literally being put out of business because of lending practices that they feel are not appropriate. We have the Central Bank has given us statistics on the tightening of lending practices, of which the credit review office is one part. I welcome and support the legislation but it is a small contribution to an overall issue. I do think we need to consider the lending environment in relation to banks that are very profitable and how they are making it very difficult for SMEs to access credit. I also believe that the scope of this legislation should look at non-bank lenders and the fact that so many SMEs are now having to go to non-bank lenders because they find it easier and more accessible to get credit from them.