Mary Coughlan (Donegal South West, Fianna Fail)

I am aware that there are concerns and that is why a considerable period of time ago we set up a round table forum. Today, I will announce the establishment of a clearing group that will include the Minister for Finance and I. It will be chaired by my Department and the Department of Finance and will include the Irish Banking Federation, AIB, Bank of Ireland, Ulster Bank, National Irish Bank, Bank of Scotland Ireland, Anglo Irish Bank, representatives of ISME, the Small Firms Association, SFA, Chambers Ireland, the IFA, Forfás, Enterprise Ireland, the IDA and Fáilte Ireland. This is the framework in which we will assess and analyse lending capacity and what is happening.

I agree that there are significant issues for small and medium-sized enterprises. I want to be able to ascertain in a serious way the specific pattern of events that are happening and, most particularly, to identify some of the credit supply solutions that need to be provided to address the concerns that every Member of the House has raised.

We have seen that access to working capital is difficult. We have also seen difficulties with other capital mechanisms such as overdrafts and the methods by which stock is purchased. One must also appreciate that there will be clearer thinking on how people will lend and on the difficult issue of the availability of cash. We will use the clearing group as a method by which we can address many of the concerns raised.

See this speech in context