Wall calls on banks to ease credit pressure

Labour local election candidate Mark Wall has called on the Government to immediately re-engage with the banks to allow cash flow become available to small and medium size enterprises in order to protect jobs in our communities.



He was speaking at the recent Labour Party Conference.

Wall also called on the banks to favourably look at a two year moratorium on home loans repayments for families who are desperately trying to do all they can to repay their loans and mortgages.

"Small businesses, be they corner shops or small commercial enterprises, are being hit with cash flow problems that are forcing their owners to consider their positions as employers," he said. "These SMEs are the backbone of employment in our communities and funding must urgently become available to allow them continue to operate in these difficult times."

He also said families are suffering 'terrible trauma and worry' that their family home will be sold from over their heads because they cannot get agreement with the banks in regard to reframing loans and mortgages.

"Yet it is these same banks that cried and cried successfully to the Government when they were in difficulty and they were facilitated to the tune of seven billion euros. What beggars belief is why this Government, in negotiating with the banks, did not put in place conditions and ring fence them to ensure that families would be protected and that SME'S could survive?"