Barry Cowen (Offaly, Fianna Fail) | Oireachtas source

Like previous speakers, I welcome Mr. Farrell and Mr. Knox to today's meeting. I agree with the previous speaker that one simple solution would be the setting up of housing associations, whether it is by local authorities or local communities. That would get around the problem.

I do not have a question as such but I have a statement to make. It is of great disappointment and annoyance to me that having responded positively to a call by Government when it launched its strategy almost two years ago, the ILCU proposed a means by which it could release a lot of much-needed capital into the marketplace in order to solve a social issue and yet no progress has been made by the parties that the ILCU has been in discussion and negotiation with. This is the kind of social issue for which the ILCU was set up in the first instance. It has done great work and been of great assistance when many others have not. We have been talking about a crisis that exists but it is now an emergency. In the famed documents associated with the arrangement Fianna Fáil has entered into with the lead Government party, which expects to lead a Government in the coming weeks, we have made it plain and clear that we expect and want to see a role for the credit unions in this area.

We have made it clear that we expect and want to see a role for the credit unions in this area. I hope this committee reinforces that wish on behalf of those we represent. The areas on which we have relied in the past for dealing with such crises are not capable of meeting the demands that exist. Outside help and assistance are appreciated and I would hope that any barrier that exists will be taken down as soon as is humanly possible in order to allow this intervention to have the desired effect.