Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

One point we have raised over the past couple of years is the cost of credit. It is extremely prohibitive. Yesterday representatives of the national organisation for newsagents came before the Joint Committee on Jobs, Enterprise and Innovation. It indicated that while some Government systems were in place prices were too high. Banks are not passing on cuts in interest rates to homeowners or businesspersons. That has a significant dampening effect on people drawing down credit and puts those with credit in existence under enormous pressure. This body should act as an interface between businesses and the banks to ensure we get a lower charge for credit. Indeed, if one compares us with the likes of Germany one would find credit costs half the price it does here.

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