Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Taoiseach for his response, but I am somewhat concerned about what is almost a denial by him of the CSO figures. The Central Statistics Office is an independent organisation that has given us the figures that show the economy is back in recession. There is no other way around that. I do not know if the Taoiseach is correct in saying that it is not consistent with tax figures, but the public know all about tax figures. They are feeling the pain of regressive taxes. In many respects, it is the wrong timing. The nature of taxes the Government has imposed has sucked continuing demand out of the domestic economy and has inflicted considerable pain on many families across the country.

People will find incredible the Taoiseach's statement that there has been a rebalancing of rights between borrowers and lenders. His suggestion is that this is to the benefit of borrowers. There has been a rebalancing all right, but it has been totally in favour of the lenders, that is, the banks. Many people are fearful of the impact on their family homes as a result of the rebalancing that has resulted in making it legislatively easier for banks to repossess houses and, indeed, diluting the code of conduct in respect of consumers so that banks can behave more aggressively towards many average families.

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