Written answers

Tuesday, 31 January 2012

Department of Finance

Credit Availability

9:00 pm

Photo of Willie O'DeaWillie O'Dea (Limerick City, Fianna Fail)
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Question 183: To ask the Minister for Finance the change in the amount of credit made available to small businesses in 2011 compared to 2010; and if he will make a statement on the matter. [4163/12]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware the Central Bank gathers and collates statistics on a wide range of Financial Services Sector activities on an on-going basis. As a general rule, my Department does not engage in a separate exercise to collect such statistics, but has access to and relies on statistics provided and published by the Central Bank. Data provided by the Central Bank indicates that the drawdown of new lending by non-financial SMEs from credit institutions in Ireland was €2.3 billion in the first 9 months of 2011. Figures for the equivalent period in 2010 show drawdowns of €2 billion. Excluding SMEs in the property related sectors these figures show drawdowns of new lending of €1.6 billion in the first 9 months of 2011, roughly equal to amounts drawn down in the first 9 months of 2010. Figures are not yet available for Q4 of 2011. For the Deputy's information, the relevant statistics for credit made available to small business are accessible at: http://www.centralbank.ie/polstats/stats/cmab/Documents/ie_Table_A.14.1_Credit_Advanced_to_Irish_Resident_Small_and_Medium_Sized_Enterprises.xls

The Deputy should also be aware that the banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. This lending capacity is incorporated into the banks' deleveraging plans which allow for repayment of Central Bank funding through asset run-off and disposals over the period to 2013.

The Government has imposed lending targets on the two domestic pillar banks for the three calendar years, 2011 to 2013. Both banks were required to sanction lending of at least €3 billion in 2011, €3.5 billion this year and €4 billion in 2013 for new or increased credit facilities to SMEs. Both have indicated that they have achieved their 2011 targets.

Photo of Willie PenroseWillie Penrose (Longford-Westmeath, Labour)
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Question 205: To ask the Minister for Education and Skills if he will confirm having received an application for additional permanent accommodation for a school (details supplied) in County Westmeath, which is in need of same due to the significant rise in pupil numbers at the school and the continuing projected increase of such numbers; if same will now be facilitated in the capital programme; and if he will make a statement on the matter. [4965/12]

Photo of Ruairi QuinnRuairi Quinn (Dublin South East, Labour)
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The school to which the Deputy refers has recently submitted an application for capital funding to my Department. The application will be considered and a decision will be conveyed to the school authority as soon as this process has been completed.

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