Sinn Féin - On Your Side

Local banks need to do more to help small and medium sized businesses

10 February, 2009

Sinn Fein MLA and Vice Chair of The Enterprise Trade & Investment Committee Jennifer McCann has called on local banks to do more to help small and medium sized businesses in the north.

Ms McCann said:

"Once again we have the CBI and the Federation of Small Businesses expressing their concern about the lack of necessary credit from the banks being made available to support small and medium sized businesses here.

"This is in spite of the massive injection of public money being made available to banks through a number of focused schemes in order to address these issues.

"Businesses are still being forced into closing resulting in people losing their jobs and the resulting effects it has on families.

"Banks have a corporate responsibility to help and support businesses in this current economic climate. The money was not given to protect banks alone and shore up their future.

"More needs to be done to secure guarantees from banks that if they receive public money they must ensure that it goes back into the economy in a way that will keep peoples jobs safe, and keep local businesses open."

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