Seanad debates

Wednesday, 25 April 2012

10:30 am

Photo of Denis LandyDenis Landy (Labour)

I welcome the students from Greenhill secondary school, Carrick on Suir, my home town. I thank Ms Greene for waiting outside until I rose to speak.

I raise the issue of loan availability to small businesses. On the last occasion the Labour Party tabled a motion during Private Members' business I led a debate on the provision of funding for small business. The Minister of State, Deputy John Perry, took the debate and was forthcoming in his support for small business. However, I have since come across many small businesses in my area which are still having difficulties with the banks, which are not being given loans or which are being offered loans with terms that are so prohibitive that they cannot draw them down. Will the Leader ask the Minister of State to bring representatives of both Bank of Ireland and AIB into the audio visual room for a formal session on the loan systems they have in place and a question and answer session with Members of both Houses? This is essential in terms of the recovery of the country and the economy. The Minister of State has outlined that there is €7 billion available in 2012 for small and medium-sized enterprises. However, unless something happens, less than 50% of this will be drawn down. As we are now the custodians of the banks, I am calling on the Leader to request the Minister of State not to ask but to instruct the banks to come here for a question and answer session with all Oireachtas Members.

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