Stress Test Results Positive But More Needs To Be Done

Chambers Ireland has today (26/10/2014) welcomed the results of the latest Comprehensive Assessment stress tests.

Speaking this morning, Ian Talbot, Chief Executive, Chambers Ireland, 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.

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For further information please contact Amy Woods, Chambers Ireland on 014004319, 086 6081605 or email amy.woods@www.chambers.ie