Oireachtas Joint and Select Committees

Thursday, 3 December 2015

Public Accounts Committee

2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014

10:00 am

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

The general complaint that I and others receive is that taxpayers' money totalling in excess of €60 billion went into the banks. They were bailed out with this money and when it comes to giving breathing space to some SMEs, no one seems to stand up for them. The other issues relates to the lending by banks to them. I receive complaints from all over the country regarding the attitude of banks to the SME sector. Ms Nolan can point to performances within banks, statistics and all the rest of it but business organisations question that and question how serious the serious the banks are in supporting the sector. It is only right that I would draw this to the Department's attention. It is rare that I would not get a complaint from representatives of business organisations when I meet them about lending to the SME sector. It is an issue for the Department of Finance because it affects the economy. We are trying to grow our economy based on the indigenous sector and sustaining 800,000 jobs in it. That complaint is out there and as the banks get back on their feet, they are being less than sympathetic to the plight of those trying to restructure and those trying to expand their businesses. That is my experience.