Oireachtas Joint and Select Committees
Wednesday, 1 February 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with Ulster Bank and KBC Bank Ireland
Mairéad Farrell (Galway West, Sinn Fein)
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Let us say I had a business that sold tea to this committee, business was normal for a long number of years, and I always had a solid business for 20 years. Then Covid hit so the committee conducted meetings using MS Teams and I could not sell my tea to the committee. Now, costs have increased due to the war in Ukraine so my business is experiencing a difficulty. To recap, my business has existed for years but now it is in a difficult position so I have greater reliance on the overdraft facility, and now I must move my account to a different bank that does not know me and, therefore, I might not have access to the same kind of overdraft facility. Am I correct that such a new situation could have a serious impact on any business?