IBEC subsidiary the SFA is lobbying Government to underwrite business lending.They are seeking a Loan Guarantee Scheme,where the taxpayer will underwrite lending to business.
Where does this social partner believe that funds exist to generically guarantee lending to business?
Who would pick up the tab for rising bad debt levels that this type of lending would guarantee?
Surely with the number of corporate welfare schemes already established by this Government ,builder bailouts,bank guarantees and pig processor payouts, this proposal is tailor made for consignment to the 'not-a-flucking-chance-mate' response from the beleaguered Messrs. Cowen and Lenihan?
SFA/IBEC lobbyist Ms. Patricia Callan appeared with their request initially at the Joint Oireachtas Committee on Finance and the Public Service on the 16th Dec.2008.