Stress Test Results Positive But More Needs To Be Done
Wexford Chamber has welcomed the results of the latest Comprehensive Assessment stress tests.
Martin Doyle, President with Wexford Chamber said “It is very positive news that the two pillar banks have successfully passed the latest ECB stress tests. As the economy is now showing strong growth, demand for finance will increase and adequately capitalised banks are vital.”
“However, this is only one part of the overall equation needed to restore the funding of SMEs to more normal levels. Equity finance is also critical to support growth and additional measures to encourage such investment must be brought forward by Government as a matter of urgency. The National Policy Statement on Entrepreneurship in Ireland is welcome but the recent budget delivered little of substance to encourage entrepreneurship, with our Capital Gains tax and Income Tax regimes for entrepreneurs remaining very uncompetitive compared to our major trading partners such as the UK,” he concluded.