Ruairí Ó Murchú (Louth, Sinn Fein) | Oireachtas source

When we talk about business we want to ensure that businesses can thrive. We need to make sure we have all of the accountability and oversight necessary in place, as well as the means to facilitate business to happen. There has been much talk about accountability, powers of enforcement and oversight. At times like this, a lot of us deviate in respect of very specific issues in our constituencies.

I refer in particular to those businesses who find themselves under pressure, such as small businesses which have closed. Unfortunately, we have seen this happen a number of times. I also refer to the closure of Dell and the hopeful signs in respect of PCI. More than 200 people worked in Dell in Dundalk and obviously put in a huge level of work and effort. A significant number of people expected a larger-scale commitment. We hope that what was there previously is replaced.

In fairness to Deputy Nash, he dealt with an issue that has come up. It would be fair to say that we are talking about Connect Credit Union and the issues a large number of members had in respect of how the closure of Kilsaran and Clogherhead happened. They said there was a lack of engagement. Anybody looking on, no matter what their view is on this, would agree with that. In fairness, there were more than 200 people at the meeting yesterday. It was an incredibly lively meeting and everything was conducted in a very professional manner while, as Deputy Nash said, an alternative AGM was held online.

I am not sure any great service was done to the credit union movement in how this was operated. There is a considerable journey to go. The special general meeting took place. A huge number of members were present. A number of motions were moved, votes took place and correspondence was sent to the Central Bank and to others. A huge body of work needs to be done. I expect we will see a lot of movement in this area. However, if we are talking about accountability and enforcement, we have to make sure - I know this is separate from what we are speaking about - the credit union movement remains as it is, connected to people and a service for people. It must engage and talk and if decisions are made, they must involve all stakeholders, including members. There is a need for the Government to be over this issue.

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