Businesses face up to 165% increase in AIB charges

Senator Marc Mac Sharry has criticised the Government for failing to intervene as local businesses face a massive increase in charges for lodging cash with AIB.

From this week, businesses in the North West face an increase of up to 165% in charges at the State-controlled bank.

Senator Mac Sharry said, “These are ridiculous increases for business owners. The bank is actually charging more money to take in money. It makes absolutely no sense, and the Government is doing nothing about it despite the fact that the State controls AIB.

“This is just another example of government policy failing to bring about real reform in the banking sector. It is our communities that are suffering as a result of the failure to support local businesses and help stimulate growth and job creation.

“I meet local business owners every single week that are under huge pressure from high rents, high rates, increasing utility costs and now higher bank charges. At the same time, the banks are still refusing to play ball when it comes to making credit available to these viable businesses.

“This Government is very quick to take the credit for any positive news on jobs but it is nowhere to be seen when decisions are needed to support businesses and job creation in our communities,” concluded Mac Sharry.