Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The difference between Deputy McGrath and me lies in how we want to achieve what is, in effect, a common purpose. I believe that if we can get new entrants into the market and if we can have more competition between the existing people who are offering mortgages and new entrants, that will push interest rates down. Deputy McGrath is frustrated about how long it is taking some lenders to bring their rates down. He is advocating that we legislate to force rates down. The objective is the same.