Ruairí Quinn
Question:12 Mr. Quinn asked the Minister for Agriculture and Food if he has had discussion with the Minister for Finance regarding the future role of the ACC; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Future Role of ACC.
Responsibility for the ACC Bank is a matter for the Minister for Finance. The future role of the ACC Bank is thus a matter to be considered by him. To date, I have not had any discussion with him in this regard, but if in the future major changes in the role of the ACC Bank are proposed, which would impinge on the agricultural sector, I would, of course, want to give my views on the matter.
In this regard, my main concern is to ensure that sufficient credit facilites exist to enable the agricultural sector's development needs to be met and to ensure that competition in the agricultural credit market is not diminished. I am satisfied that the present structure of the ACC Bank following the passing of the ACC Bank Act, 1992, will not result in any reduction in the overall level of credit available to the agricultural sector.
I realise that the main responsibility is with the Minister for Finance but I asked if the Minister had had specific discussions with him. I welcome the Minister's assurance that if any changes take place, because of the importance of the ACC to the agricultural sector he will have a major input into Government decisions. Does the Minister agree that there is an element of support for the ACC among farmers, for investment purposes, which makes money available for development purposes, and that any change which involved the ACC becoming a normal commercial lending bank, would diminish investment from the agricultural community?
If there is any indication of change in relation to the agricultural sector I will have appropriate discussions with the Minister for Finance. I agree that there is substantial support for the ACC from the agricultural and farming community and I would like at times if the reciprocal support from the ACC towards the farming community was more evident.
I thank the Minister — I did not want to say that.