Willie O'Dea (Limerick City, Fianna Fail)
Link to this: Individually | In context

Question 214: To ask the Minister for Finance if he has engaged with stakeholders on the findings revealed in credit supply and demand surveys; if he has identified and addressed blockages in the system; if not, when this will be completed; and if he will make a statement on the matter. [20070/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

The Minister for Small Business, Mr John Perry T.D., accompanied by the Secretary General from my Department, held a series of seven regional meetings around the country to discuss access to bank credit with key local stakeholders. I attended the meeting with stakeholders in Limerick. These meetings explored the findings of the Mazars survey on credit demand published by my Department late last year and examined further the actions which might be taken by the Government to improve access to credit for SMEs. These meetings are evidence of the Government's key priority to support the growth and development of the SME sector in Ireland. The dates, locations and key sectoral focus for the meetings were as follows:

The invitees included:

- A regional representative of SFA;

- A regional representative of ISME;

- A representative of each Chamber in the region;

- A regional representative of Vintners Federation of Ireland;

- A representative of the Licensed Vintners Association;

- A regional representative of Retail Excellence Ireland;

- A representative of local CCEBs;

- A representative from each of Dept of Transport, Tourism & Sport and D/JEI;

- Local members of the Advisory Group on Small Business;

- A regional representative of Fáilte Ireland and ITIC;

- A regional representative of IFA;

- Regional representatives of the three main banks;

- A regional representative of Enterprise Ireland;

- A regional representative of IDA and Forfás;

- A regional representative of the IHF.

The purpose of the meetings was to allow the Minister and Secretary General to hear at first hand the views and experiences of local business representative groups, local bank representatives and state agencies on access to bank lending. These will complement the information provided by the Mazars survey and ensure that ongoing and future Government policies on credit to SMEs are based on as much information as possible.

My Department is currently compiling a report on issues raised at the meetings and identifying next steps for action by the various interested parties.

I understand that, on foot of these meetings, a number of stakeholders have committed to reassembling and discussing further the issues that were raised at the meetings. In addition, Minister Perry has volunteered to attend these follow-up meetings in order to further engage with stakeholders on the issue of SME credit.

I would also point out that the latest survey of demand for credit by SMEs is currently underway and the results will further inform Government policy in this important sector of the Irish economy.