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

This is a matter of simple economics for small business owners, many of whom find it extremely difficult to deal with elongated credit terms. Such extended payment periods are one of the levers by which large multiples may seek to improve the terms and conditions available to them. The provision of a 90-day credit term allows those multiples to make interest on the money they should be paying to small businesses. By agreeing to this amendment, the Minister would facilitate the flow of credit for a large number of small businesses. The protracted committee meetings we have had regarding banking credit made clear that credit flow is one of the major issues for businesses at this time. If they cannot achieve that blood flow of credit through their system, many businesses will die, even where they have a good business model.

The provision in this amendment offers a simple way to improve that situation. I cannot see how a multiple's desire for 60 or 90 days of credit can be defended by the Minister.

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