Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I join many colleagues from rural areas in expressing concern about the Bank of Ireland closures. In my own county, branches will close in Ballyhaunis, Kiltimagh and Charlestown, in addition to Ballymote and Tubbercurry in south Sligo. It means that an entire swathe of east Mayo and south Sligo will be without a branch service. Many people may dismiss that, but it is a very real concern. Many people are not capable of Internet banking and the alternative An Post service, while welcome, is not sufficient for banking.

I endorse the point Deputy O'Callaghan made about the physical removal of branches. It is only the latest example of the removal of power from branches and branch staff who know an area and its customers best. We now have lending and decision-making authority centralised where there is no understanding of the day-to-day economy. We must address that.

The manner in which Ulster Bank, in particular, rolled out its announcement was abhorrent. It told its staff 24 hours before the decision was announced that no decision had been made, while part of its loan book had been sold. That is a disgraceful way to treat staff. It is also reflective of the way communities are being treated.

The Minister said earlier that we need to reflect on our new banking environment. What will that look like? We need to reflect on that now. We need to reflect on the possibility of the State being involved in some way, as it was previously with ACC Bank and ICC Bank. Is the Minister satisfied that the current rates of interest, bank charges and rates of dealing with SMEs are appropriate for the size of our economy? There are tough decisions to be taken. I have no doubt that he will take them with integrity and commitment but we need to take those decisions and engage. I will leave it to him to start that process with a sense of urgency.

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