Willie Penrose (Longford-Westmeath, Labour)

Perhaps I can make some other suggestions. I do so in an effort to be constructive. Perhaps local authorities could be encouraged to grant rates and charges waivers to affected businesses and households. This would be useful. Perhaps also the Government could - this was mentioned this morning by Deputy Sheahan - take steps to amend the Credit Union Act 1977 to allow credit unions to extend from five years, which is currently the maximum period, to ten years the period in respect of loan repayments. Will the Minister ask the famous banks, whom the people subjected to this flooding are bank-rolling through their taxes, including householders, farmers and small businesses, to assist specific householders and businesses? These people have been identified by the local authorities in Cork, Westmeath, Leitrim and Galway. Will the Minister request the banks to reduce their overdraft rates, which are excessive, and to give people term loans at a competitive rate? A drop of 2% in this regard would be significant. It would be akin to the Government giving people a grant of, say, €15,000 or €20,000. It is important this is done. Perhaps also they could be asked to lengthen the period of repayment and to advance term loans and overdraft facilities at discounted rates, all of which would be positive steps.

Will the Minister liaise with the banks to ensure they do their job with regard to the people who have been affected by the flooding, including small businesses, farmers and so forth? The bank representatives have appeared before the Oireachtas committees. They tell the committees one thing but 48 hours later we hear something different. One day they did not need capital but 48 hours later they did need capital from the Government. The banks must meet their commitments without fudging or dodging. They should play a positive role to help this country get back on its feet and to help the businesses, householders and farmers who are suffering. I seek positive action from the banks, not mealy-mouthed responses.

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