Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I would have thought the Minister would have sought the advice of the Attorney General after Second Stage of the Bill was completed in May but it appears this has not happened. As we are not in the business of advancing legislation that is unconstitutional, that issue will need to be clarified. The Bill is with the Parliamentary Counsel so we will get an opinion from that source. The Government also needs to get an opinion from the Attorney General. I do not believe the Bill is unconstitutional but I am not a senior counsel and am not qualified to hold an informed opinion on that. This issue has to be addressed and it will be done through the Parliamentary Counsel. I encourage the Department of Finance to refer the Bill to the Office of the Attorney General for advice also.

My overall view on the need for the Bill has not changed. Ultimately, it is about helping mortgage holders who are paying over the odds. Many of them are trapped and are being taken advantage of. The proposed powers are necessary. The Bill will provide the Central Bank with extra tools. We cannot compel it to use them because it is ultimately independent but we will see what shape the final draft of the legislation takes. I am very much open to ideas to improve and strengthen the Bill. As I stated, it is an honest effort to address a problem. No one in opposition has access to anything like the resources on the Government side, including civil servants, the Attorney General, parliamentary draughtsmen and so on. We have done a good job in bringing the Bill to this point but now the Oireachtas has to take ownership of it and make it the best Bill it can possibly be. It is designed to help mortgage holders, and that really is a litmus test as far as I am concerned.