Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

It probably comes back to what I said earlier - my beef with how banking works here has more to do with the Government and its policies. Mr. Boucher made an interesting comparison between the Europe-Irish and Europe models. It bears more discussion, but, unfortunately, we do not have the time to do so.

I wish to ask about two related matters. First, there is the matter of repossessions, voluntary surrenders, not just of principal private dwellings but also of buy-to-lets and so on, and the fact that a lot of people have been forced to give up their homes or are being put out of them by receivers. Why do banks require tenants who are paying rent to be put out?

I have not read all of Mr. Boucher's document, but he has said Bank of Ireland is now one of the biggest or possibly the biggest lender into the construction and property and corporate sectors. He has trumpeted the fact that it is engaged in a lot of lending in these areas. I put two and two together and it seems all of this property has been made vacant as receivers move in and that commercial property is being bought up by others who are presumably financed by banks like Mr. Boucher's. Banks get control of this property and in the meantime tenants are put out. Rents are then jacked up, which is great for the people to whom he lends and the bank, but the consequence is a housing crisis and another property bubble.