Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Perhaps I can summarise where we are at. I am looking at the 360,000 people. That is almost the population of County Cork and a significant number of the population. Leading on from what Deputy Donnelly said, the report has provided some data in this area. I do not believe the 360,000 people can all be put into one silo, as it were, because they fall into different categories and have different needs and presentations. Some may be informed of the interest rates and some may not but the fact is that 360,000 citizens are availing of a credit route which is the most expensive and penalising and presents the greatest risk of perpetual debt. The Central Bank has carried out a report which provides a certain level of insight and some of the questions here give us a certain level of insight as well. What action will be taken by Mr. Sheridan and his department on foot of this report and what he has found out? I am not talking about recommendations or findings but the action that will be taken. We have established this afternoon that the interest rate parameters are set by the Central Bank. The licensed institutions may be like football teams but the Central Bank is like FIFA or UEFA. It sets the rules and decides when they are offside and onside. What specific actions will the Central Bank take on foot of its own report?