TD Peter Fitzpatrick urges government to loosen credit at Dáil debate

Dundalk based TD Peter Fitzpatrick has told the Dáil that the owners of businesses in Dundalk are distraught at the lack of availibility of credit to their businesses

Dundalk based TD Peter Fitzpatrick has told the Dáil that the owners of businesses in Dundalk are distraught at the lack of availibility of credit to their businesses

“On a daily basis in my constituency office in Dundalk I meet people who are distraught about the lack of credit opportunities for their businesses which are usually small, with ten or fewer employees.

“Quite often they are labour-intensive and located in the lesser urban areas. In addition, they are often family-run and have employees who have been with the business for more than ten years. These business owners are not charlatans or property speculators or operating in the black economy.

“Most often they are the family-focused, pint-drinking, GAA-following people of Ireland every one of us in this House knows. They are part of the fabric of our society. They create jobs in their local communities and add value by spending their profits and wages on other local services and in supporting local business providers. This Bill may not be the complete solution, but it is certainly a step in the right direction.”

“I have met constituents who operate in business parks such as those in Tenure and Ardee, as well as Quayside Business Park in Dundalk. They may be seeking to expand their businesses, with resulting employment creation, but their efforts are being stifled by a lack of credit in the banking sector. Some industries are more reliant on credit than others.

“More importantly, some high potential start-ups are in greater need of lenient credit terms, as they are not in the same bargaining position as some of their more established, bigger and often international competitors.”

“Small businesses were cherished and valued, their proprietors were held in esteem and the banks were understanding in their dealings with these companies. Somehow, in the next ten years and under previous Administrations, the focus was changed and the emphasis was placed on multinationals.”