Thomas Pringle (Donegal, Independent) | Oireachtas source

The Tánaiste and Ministers continuously go on about a 100% redress scheme. The redress scheme is nowhere near 100% redress. Householders are looking at an average of €50,000 to €70,000 to pay for redress under the Government's 100% redress scheme. That is nonsensical. Every Minister continuously mentions 100% redress, as if it will happen if they say it often enough. It will not happen. That is the problem. The Government is doing nothing to engage with householders on how to bridge that gap. Householders have had to go out themselves to meet the banks, the Central Bank and those in the insurance industry. The banks have said to them that there have been no discussions about the mortgageable value of the house afterwards, which is how a homeowner could get a mortgage and sell his or her property after it is repaired under the so-called 100% redress scheme.

That is the question and that is the fact that families are facing right across the board. The Tánaiste spoke about the €2.3 billion scheme. Based on his own figures, it will take 40 or 50 years to spend that sum, based on the amount of redress that has taken place. This scheme is a problem that will go around for years to come and that people will have to live with. The reality is for this to even come close to being a 100% redress scheme, the banks have to be able to work with the people they give the loans to-----

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