Dáil debates

Thursday, 7 November 2024

Credit Review Bill 2024: Second Stage

 

1:50 pm

Photo of Neale RichmondNeale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

I wish to start off by thanking all Deputies who contributed to this debate. I particularly thank my dear friend, Deputy Griffin, for his contribution not only this afternoon but over the last decade and a half for the people of Kerry at a local and national level. To say he has done the State some service is an understatement. I wish him, Róisín and the boys all the best. I am delighted to confirm for the House that he is stopping on the way home to buy them two full Liverpool kits to wake up to tomorrow. That is the least they deserve. I believe Róisín is into a bit of art; the Deputy might know a guy. I thank the Leas-Cheann Comhairle very much for that indulgence.

I look forward to further discussion of this Bill on Committee Stage, and Deputy Doherty is right that it will be most likely in the next Dáil. I hope that whoever holds this position going forward will proceed with this extremely important legislation. We have been able to thrash through some good stuff today. I and my officials will reflect on all the points raised today.

As I laid out, the purpose of the Credit Review Bill is to establish the credit review service on a statutory stand-alone basis in a manner that closely maintains its current operations. This will guarantee the continuity of the industry funding model, formalise the governance structure of the service and support the enhancement of the credit review's responsibility. It will also provide the option to extend the credit review scope in the future subject to various consultation and other criteria to accommodate other financial service providers lending to the Irish SMEs and farmers that are not currently covered in the National Asset Management Agency Act 2009. I personally hope to see that empowered by the future Minister for Finance going forward. The legislation has been carefully drafted to avoid imposing an excessive burden on those concerned, and the primary aim is to maintain the status quo. I am pleased to present the legislation today. It will ensure that those SMEs that rely on the service can continue to do so. I again thank all Deputies and the Oireachtas committees for their contribution to the development of the legislation to date. I would particularly like to take a moment to thank the officials in the Department of Finance. This was not simple legislation. I know it is a brief debate today at the end of a Dáil term, but it was really difficult legislation that hours of work went into by dedicated public servants. Their work should be recognised in what is very important legislation.

I thank the Leas-Cheann Comhairle for the chairing of this and many debates over my first Dáil term. I very much hope to be back here next month. That is obviously a matter for the people of Dublin Rathdown. Regardless, however, I would like to extend my sincere thanks to all the people who work in this wonderful complex supporting our parliamentary democracy from the Debates Office, Bills Office, the ushers, catering staff and everyone else in between, as well as acknowledging the massive contribution of those colleagues who will not be back after the general election and those who perhaps will be back. To conclude, this is important legislation. I look forward to seeing further discussion on this Bill as it progresses through the House in the next format.

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