11 DFómh 2011, 17:12
Social finance, investment in social enterprises and the creation of jobs in the community will be discussed at a meeting of the Committee on Jobs, Social Protection and Education at its meeting tomorrow, Wednesday, 12th October.
Social investment fund Clann Credo; Social Value Lab, Scotland; and Philanthropy Ireland will attend tomorrow’s committee meeting to consider the findings of the Clann Credo report From the Ground Up – How Social Finance can help Communities Regenerate and Create Jobs.
Chairman of the Committee Deputy Damien English said: “Many businesses, particularly small businesses and start-ups, are finding it difficult to access credit. According to the Clann Credo report, the latest figures from the Central Bank show that bank lending to business fell by 2.6% in the year to May. This was in addition to a drop of 2.3% the previous month, with short and medium term business loans hardest hit.
These figures highlight the importance of social finance for local economies and communities. Clann Credo approved over €10 million in new lending in 2009 and the same amount again in 2010. It expects this to double to €20 million annually within five years.
Clann Credo’s report From the Ground Up – How Social Finance can help Communities Regenerate and Create Jobs explores the role of the social economy in recovery, its potential to create jobs, the lessons we can learn from Scotland and the role of LEADER and it also recommends a number of initiatives to government to assist development of social enterprise and the social economy.
Tomorrow, we will have the opportunity to discuss the recommendations in the Clann Credo report and consider the initiatives undertaken in other countries, such as Scotland, and see how these can be applied in Ireland.”
The Committee will also discuss corporate responsibility and social inclusion with representatives from Business in the Community.
This meeting will take place on Wednesday, 12th October, in Committee Room 3, Leinster House 2000 at 9.30am.
Committee proceedings can be followed live at:
http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee on Jobs, Social Protection and Education
Membership
Damien English, TD (Chairman)
Ray Butler, TD
Áine Collins, TD
Joan Collins, TD
Michael Conaghan, TD
Barry Cowen, TD
Seán Crowe, TD
Tom Fleming, TD
Brendan Griffin, TD
John Halligan, TD
Seán Kyne, TD