Dáil debates

Wednesday, 12 May 2021

Loan Guarantee Schemes Arrangements (Strategic Banking Corporation of Ireland) Bill 2021: Second Stage

 

5:45 pm

Photo of Ruairi Ó MurchúRuairi Ó Murchú (Louth, Sinn Fein) | Oireachtas source

Ní fadhb ar bith é.

Sinn Féin supports this legislation. Everybody accepts the absolute need for SMEs to have ease of access to necessary moneys. I hope the Minister of State, Deputy English, will consider Deputy O'Reilly proposal on further engagement with businesses and all the relevant stakeholders. We need to offer schemes that are fit for purpose. In this context, that means appropriate interest rate levels and ease of access. It needs to be doable.

I have had a number of engagements with the Minister of State, Deputy English, specifically on other supports that are required by industries. Certain businesses have fallen between the cracks and have not necessarily got the supports they require to get them through this period. Obviously, I will continue that engagement. I hope in the near future that we can get solutions for those businesses, some of which are in my constituency. I expect there are also some in the Minister of State's constituency and constituencies throughout the State.

This is about ensuring that we can keep as many viable businesses as possible on the road. We must ensure that people have the correct supports combined with the correct type of credit. Ease of access is important, as are decent interest rates. We have already heard much commentary on our dysfunctional banking system.

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