Jackie Cahill (Tipperary, Fianna Fail) | Oireachtas source

I thank the Minister for his response but he is missing the point I am making. To renege on his responsibility in the area and give it to the banks is not satisfactory. The people who want this money the worst will not get it from the banks. Two years ago a loan scheme was introduced in the budget that was most welcome but again on that round, the people under the most financial pressure did not get the loans from the banks. The banks offered the loans to their better customers. We might think the banks will step in and help the people under the most pressure but unfortunately that will not happen.

One of the milk co-ops introduced a flexible milk loan scheme a month or six weeks ago and the demand was phenomenal. Unfortunately, the appetite or need for credit among farmers is absolutely immense. We had one of the longest winters on record, with major costs, and a summer that saw large costs being incurred as well. Unfortunately, this winter will see a significant increase in the level of costs on farms also. Farmers, whether they are involved with pigs, beef, dairy or tillage, have a huge demand for short-term credit. A section of farmers have also invested very heavily in their businesses and are under extreme pressure to meet repayments. A short-term fix is required and the banks will not solve this matter. The Minister cannot renege on his responsibility to the various sectors.

Short-term credit at low cost must be provided if these sectors are to be kept sustainable.

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