Willie Penrose (Longford-Westmeath, Labour) | Oireachtas source

It is clear the economic recovery has been unbalanced. While the greater Dublin region and multinational export sector have been experiencing growth, the recovery in the Border, midlands and west, BMW, region is undermined when agricultural enterprises and other small and medium enterprises lose access to the financial system. Will a pilot scheme for the Sparkassen model be introduced? County Westmeath, which I represent, is ready, willing and committed to adopt a pilot scheme for the BMW region. Is it not the case that with the demise of building societies and the withdrawal of bank branches across the country, human intelligence and knowledge of business in the BMW region have been replaced with algorithms and remote banking, which have no interest or stake in the community?

We are facing the challenge of Brexit. Action 23 of the rural action plan refers to investigating the potential of the German Sparkassen model. If that is the case, why have Sparkassen or Kiwibanks not been included as a responsible body in the plan? The Departments of Arts, Heritage, Regional, Rural and Gaeltacht Affairs and Finance, An Post and the Irish League of Credit Unions are involved. Surely the rural action plan presented an ideal opportunity to have these banks included in the overall responsible body.

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