Kilkenny has suffered it’s worst pre-Christmas trading in over a quarter of a century according to Fine Gael’s new candidate in the local elections David FitzGerald.
He said in a statement that many local retailers have confirmed that their receipts are down by a massive to 30 per cent on last year as the credit crunch bites for local shoppers.
“The falling sterling rates and the increased VAT rate implemented at the start of December have made a bad situation much worse.’
Although cautiously welcoming the recapitalisation of the Irish banking system the borough council candidate declared that many questions remain about the failure of the Government and the Financial Regulator to act sooner.
“The growing economic gloom and rising unemployment figures nationally has had a significant impact in Kilkenny. We must support any moves to help borrowers and small business in these very difficult times,” stated Mr FitzGerald.
“Enormous damage has been done to many small businesses. The delay in improving the availability of credit may not save many struggling enterprises as Kilkenny is braced for a series of job losses and retail closures in the New Year.”
Following David FitzGerald’s comments at the St Canice’s Credit Union AGM where he supported the Credit Union’s on-going assistance to their members and small business, Mr FitzGerald has asked the Credit Union to consider creating a special “Hardship fund for Credit Union members who find themselves in financial difficulties.”
Credit Union management has confirmed that their Credit committee is actively considering the creation of a range of facilities to assist members in these difficult times.
