Wilson presses Chief Secretary on bank lending practices

Finance Minister, Sammy Wilson has pressed the Chief Secretary to the Treasury on bank lending practices and the impact on Small and Medium Sized Enterprises (SMEs) locally.

The Minister raised the issue during a meeting with the Chief Secretary, Liam Byrne, and Finance Ministers from the devolved administrations in Scotland and Wales, the latest in a series of Finance Ministers’ Quadrilateral meetings.

The subjects discussed included actions aimed at sustaining economic recovery from recession.

Speaking after the meeting, the Minister said: “Locally, I chair the Cross Sector Advisory Forum Sub-Group on Banking, and one of the key concerns brought to my attention is the growing concern that SMEs cannot get banks to advance credit, and expand the much needed liquidity that will help our economy out of recession.”

The Minister added: “I briefed the Chief Secretary on my concerns and he readily agreed to a further meeting with me and the other Finance Ministers, to ensure that the Chancellor can be fully apprised of the issue before the next meeting of the Lending Panel. This will complement the ongoing work that I am taking forward with the Institute of Directors locally on addressing this issue.”

Notes to editors:

1. Minister Wilson has been working with the Institute of Directors in Northern Ireland to address growing concerns about the lending practices of our local banks. In his role as Chair of the Executive’s Cross Sector Advisory Forum (CSAF) on banking, Minister Wilson has already brought a number of related recommendations to the First Minister and deputy First Minister’s attention.
2. All media queries should be directed to the Department of Finance and Personnel Press Office on 028 9052 7375. Out of office hours please contact the duty press officer via pager number 07699 715440 and your call will be returned.