IBEC is calling for the creation of a state-backed investment bank – to ensure that businesses and entrepreneurs have access to credit.

The business group has launched its Action Plan for Recovery which says the new bank could be financed by the European Investment Bank and the National Pension Reserve Fund and delivered through Ireland’s existing bank network.

It also suggests a new social welfare smart card to ensure that child benefit payments are spent in Ireland.

Chief Economist with IBEC Fergal O’Brien says they have lots of ideas about how to get people spending again:
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