Ulster Unionist Party Economy spokesperson, Sandra Overend, has outlined that up to date information on bank lending data in Northern Ireland is key to understanding and improving the problems of accessing finance. This follows the creation of an ‘Access to Finance Implementation Panel’ to make progress in this area.
The Mid Ulster MLA said;
“Access to sufficient finance remains a real concern, particularly for SME’s, during the current economic climate. Put simply, it is vital for them if they are to grow their businesses and take on more staff.’
‘However, one of the most pressing issues is the lack of available lending data specific to Northern Ireland. Just last week I wrote to the Chief Executive of the British Bankers’ Association, Anthony Browne, to ascertain why Northern Ireland was not included in their recent publication of postcode lending data for 160 postcode areas of Great Britain.’
‘Nevertheless, I welcome the creation of an Access to Finance Implementation Panel which was a recommendation of the Economic Advisory Group in March 2013. Alongside the Joint Ministerial Taskforce on banking and the current Inquiry by the NI Affairs Committee, I hope it will contribute to the change required within our banking sector.”