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Morgan supports debt recovery measures for small businesses

10 June, 2009

Speaking in the Dáil this evening on the Private Members’ Motion on the recovery of debts for small businesses Sinn Féin’s Finance Spokesperson Arthur Morgan TD said the Government must introduce cost effective measures for speedy recovery of small debts.

Deputy Morgan said, “Bad debts for a small business can lead to an inability on the part of the business to pay its own debts causing a chain reaction and ultimately leading to an over use of expensive over-drafts.

“I have many policy differences with Fine Gael but I agree with the substance of this Bill although I do have some concerns with some of the measures included in it.

“We must see the introduction of cost effective measures for speedy recovery of small debts. Small to Medium sized Enterprises (SMEs) are the heart of our economy and bad debts are threatening their viability.

“We also need to see measures to deal with big businesses abusing terms of credit with small businesses. My party would like to see the establishment of a small independent office to oversee reports, anonymous or otherwise, of abusive practices of major business chains over smaller sized businesses.” ENDS

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