Oireachtas Joint and Select Committees
Thursday, 20 October 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank (Variable Rate Mortgages) Bill 2016: Discussion
10:00 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Of course, that is the way it should be as he is the author of the legislation. However, we all acknowledge the role and expertise of the Department of Finance and the resources it has at its disposal. I welcome the Minister's commitment there again. Notwithstanding the reservations the Minister mentioned on Second Stage and the position the Government would take if it had a majority, is the Bill workable in terms of the principle of market intervention? The Minister referred to strengthening the Bill and improving it if it is the decision of the committee to move to the next stage, which is formal committee consideration. Is it the Department's view that the Bill can be strengthened to address the areas of concern it has and in such a way as to allow for the key principle, which is that the Central Bank would have the power to intervene in the market in relation to interest rates?
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