Thomas Gould (Cork North Central, Sinn Fein) | Oireachtas source

Moneylenders are currently distributing leaflets promoting loans. My father recently received one in the post. If one borrows €1,000 from one of these moneylenders, one will pay back €32 a week for a year, which means paying back €1,560. That is a scam and a disgrace. How can we allow this? The problem is that, if people cannot find another avenue to borrow money, they are driven to these moneylenders. Christmas is a special time and it will be even more special this year. All families want to do their best. Parents in particular want to do the best for their children and they are being driven into the hands of moneylenders. We in Sinn Féin are bringing forward legislation which aims to cap interest rates and to stop this type of moneylending because it is a scandal.

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