asked the Minister for Industry and Commerce if he will take immediate steps to eliminate the fragmentation of schemes of preferential finance for exports of capital goods.
21.
Ceisteanna—Questions. Oral Answers. - Export Credit Schemes.
20.
asked the Minister for Industry and Commerce if he will make an Irish export credit finance scheme available on a wider if not unlimited basis as a matter of urgency; and if he will state the information which firms should obtain from their customers in order to secure export credit finance at present.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 20 and 21 together.
The arrangements for the provision of export credit finance for capital goods are being reviewed at present to see if any changes are necessary.
In relation to the second part of Question No. 21 I would point out that the information required necessarily varies having regard to the particular circumstances of each case but that in general it is information of a financial character which is taken into account in assessing the credit worthiness of the parties concerned.
Is the Minister serious in saying that the matter is being examined to see if any change is necessary? I may not have got his exact words but that is the sense I took from them. Is he not aware of the fact that change is necessary and that improvement is necessary and vital in the context of the enormous deficit in our balance of payments? Is the Minister further aware that I suggested this to him in the debate on the budget? Why has he not done something about it before now?
The fact that it is under consideration indicates that I am aware that there is a real problem there. I have not settled in my mind what the most appropriate response is, but the matter is under consideration.
Question No. 22.
In view of the seriousness of the matter the Minister should be doing something about it.
22.
asked the Minister for Industry and Commerce if he has made provisions whereby manufacturers who have been compelled to stockpile due to decline in domestic consumer purchasing will be accorded extended credit facilities.
Recently, at my request, the Minister for Finance took up with the Central Bank the question of the liquidity problems affecting manufacturing industry. I am assured that Central Bank inquiries showed that the commercial banks are aware of the problems affecting industry and are prepared to give and, indeed, have already given sympathetic treatment to sound manufacturing projects with liquidity problems.
I understand also that the Central Bank has recently informed the commercial banks that there is scope for advancing further credit for productive purposes. This should help further to alleviate the liquidity problems of manufacturers.
Would the Minister agree that there are many firms which had loans for working capital which have been called up in recent times?
The question is in very general terms. There are always many firms who have loans that can be called up at any given moment.
Can the Minister give a figure recently on record which would show a considerable excess over what was normal in the past?
I would not be in possession of that sort of figure.