Joan Burton (Dublin West, Labour)

Can the Minister tell us why the Bill contains no specific requirement to charge interest to borrowers and developers? There is a provision in various sections of the Bill for the possibility of charging interest, but our legal advisers, who have read the Bill carefully, have pointed out to us that there is no requirement to charge interest. That is not written into the Bill; there is a capacity to do so but it is not a requirement. I am sure the Minister is aware that developers have been walking around town happy in the knowledge that they will, under NAMA, have a holiday from interest payments.

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