Dáil debates

Thursday, 10 July 2014

Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (Resumed) and Remaining Stages

 

4:30 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

I want to echo those points. I said at the start that I will support the Bill and I will do so because I agree with what the Bill is trying to achieve. However, honest to God, this is a €5 billion fund for lending to SMEs with up to €4 billion of a State guarantee provided by the Minister for Finance, with no ratification by Dáil Éireann. This is absolutely no way to do business. I cannot understand it. We are clearly interested and we are clearly trying to improve the legislation. Maybe the Minister can tell us why Dáil Éireann does not get time to debate a €5 billion Bill that, critically, has a €4 billion State guarantee attached to it. It is an outrage.

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