Seanad debates

Thursday, 1 April 2010

11:00 am

Photo of Brian Ó DomhnaillBrian Ó Domhnaill (Fianna Fail)

I want to raise two issues. First, I welcome this morning the launch of the credit review process which has been initiated by the Government to review the credit lending facilities available from Bank of Ireland and AIB. Where individuals have been refused credit or it has been withdrawn from them, they will be allowed to make a submission as part of the credit review process in which the bank's lending criteria will be reviewed and a recommendation made as to whether it should provide credit. The bank will be obliged to accept the recommendation or explain the reasons behind the non-provision of credit. I, therefore, welcome the initiation of the credit review process which is a step in the right direction. The two banks have been refusing credit to SMEs, farmers and shop-owners. This has affected businesses and job growth in my constituency. hope the new process will allow businesses to obtain the credit they require to survive.

Second, I support my colleagues in requesting the Minister for Arts, Sport and Tourism, Deputy Hanafin, to attend the Chamber. I congratulate the new Minister on her appointment. I share Senator Mooney's view that her transfer to the Department does not amount to a demotion. It is one of the Departments which can drive economic recovery, particularly in the tourism sector. Efforts must be made to attract more tourists which would boost spending.

The Olympics Games in London in 2012 present a great opportunity on our doorstep. I have already raised this matter in the House, but I am utterly disappointed by the attempts the Department has made heretofore to attract visiting teams to train here. We have a great opportunity in this respect. Some 210 countries will compete in the Olympic Games and hundreds of sportsmen and women could be attracted to come here to train prior to the games.

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