Seanad debates

Wednesday, 14 July 2010

11:00 am

Photo of Paul CoghlanPaul Coghlan (Fine Gael)

I remind the Leader he committed yesterday to informing us today regarding the Dublin mayoral Bill with which the Dingle - Daingean Uí Chúis matter is tied up. This is the urgency.

I refer to the availability of credit, a matter touched on by Senator Fitzgerald and others and about which there is a great difference of opinion. Most of us believe credit is not flowing and I believe it is not flowing properly to oil the wheels of the economy. Some of this is understandable because of the dire situation in which we find ourselves. John Trethowan, the credit reviewer, is a decent, honourable man and a good prudential banker, not of the other kind, in my experience and knowledge. If he states the main banks are making credit available, I believe him. However, the question is the extent to which it is available and, sadly, this is where the deficiency lies. It is not available to the extent we would wish to make the improvements we wish to see materialise. I have no doubt good, viable businesses are obtaining the credit they need. However, we must go somewhat further than this given the situation we are in. We could usefully hold a debate about the matter and it would be interesting to have the Minister in the House to outline his view and that of the Department with regard to the situation. I do not agree with the length of the recess either.

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