‘Minster can release the burden of consumers with Card - Purchase Scheme’ O’Flynn

‘Minster can release the burden of consumers with Card - Purchase Scheme’ O’Flynn

Councillor Kenneth O’Flynn is calling on The Minister for Finance to give support to a new measure that he hopes will take the burden of rising expenses off the Irish consumer by giving them the chance to pay for items they purchase through an instalment purchase scheme with the use of a simple card. The Fianna Fail councillor stated ‘I am proposing that a new banking card should be made available to consumers that allows for products to be purchased and then paid for through a number of instalments over a period of three months with 0% interest.

Councillor O’Flynn added that this should be done in partnership with Irish banks that are under state ownership  ‘This is about asking the banks that the Irish taxpayer bailed out, and is picking up the tab for, to give something back to the struggling retailer and consumer.’

The North side councillor explained  ‘I believe this could go a long way in giving the hard pressed consumer an opportunity to make significant savings on their expenditure, while also giving retailers a chance to build a much needed customer base.’ Councillor O’Flynn outlined how ‘Recent CSO figures show an annual decrease of 2.7% in the volume of retail sales, with hardware, textiles, clothing and footwear being particularly effected’ 

Councillor O’Flynn says that this initiative is something tried and tested ‘This kind of option is available when paying for electricity, gas and other household costs, in fact various reed card systems have been tried in other countries and have proven very successful. Moreover I think it is time that something similar should be introduced along the lines of groceries and other products. 

  Councillor O’Flynn is asking the Minister for Finance Michael Noonan to consider this ‘I am calling on the Minister for Finance to look at this and seriously consider implementing an instalment purchase scheme as a means of giving the weekly shopper a lifeline. I will be writing to him personally to act on this and furthermore I will be calling on Cork City Council to support my proposal.’

The City Councillor who recently had three motions opposing government decisions passed by Cork City Council will be hoping for the same outcome.